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Author Question: If firms are producing efficiently, but consumers can reallocate goods amongst themselves, A) the ... (Read 41 times)

tsand2

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  • Posts: 520
on: Jul 1, 2018
If firms are producing efficiently, but consumers can reallocate goods amongst themselves,
 
  A) the equilibrium is not efficient.
  B) the equilibrium is efficient.
  C) the consumers are behaving irrationally.
  D) the firms are too greedy.

Question 2

If Option A costs 40 and yields 20 units of output, and Option B costs 50 and yields 30 units of output,
 
  A) Option B and Option A are equally economically efficient.
  B) Option B is economically efficient relative to Option A.
  C) Option A is economically efficient relative to Option B.
  D) It is not possible to determine which option is more economically efficient.
Microeconomics ¦ Perloff ¦ 8th Edition
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Kimmy

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

D


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