Author Question: Which assumption(s) is (are) necessary for an efficient allocation of resources among firms? (Read 31 times)

D2AR0N · **on:** Apr 19, 2019

Question 1

When all the conditions for perfect competition are met

◦ resources are allocated among firms efficiently.
◦ final products are distributed among households efficiently.
◦ the system produces the goods and services consumers want.
◦ All of these are correct.

Question 2

Which assumption(s) is (are) necessary for an efficient allocation of resources among firms?

◦ Factor markets are open and competitive.
◦ All firms pay the same prices for inputs.
◦ Firms behave so as to maximize their profits.
◦ All of these are correct.

micaelaswann · **Reply #1 on:** Apr 19, 2019

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D2AR0N · **Reply #2 on:** Apr 19, 2019

Excellent

micaelaswann · **Reply #3 on:** Apr 19, 2019

Great! Please up vote