This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which assumption(s) is (are) necessary for an efficient allocation of resources among firms? (Read 76 times)

D2AR0N

  • Hero Member
  • *****
  • Posts: 561
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.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by D2AR0N on Apr 19, 2019

micaelaswann

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


D2AR0N

  • Hero Member
  • *****
  • Posts: 561
Reply #2 on: Apr 19, 2019
Excellent


micaelaswann

  • Sr. Member
  • ****
  • Posts: 314
Reply #3 on: Apr 19, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Mining Mineral Resources Mining Mineral Resources
Iceland Geothermal Resources Iceland Geothermal Resources
With a three-way catalytic converter, emission control is most efficient with an air–fuel ratio ... With a three-way catalytic converter, emission control is most efficient with an air–fuel ratio ...
Energy Resources range from inexhaustible to nonrenewable Energy Resources range from inexhaustible to nonrenewable
Minerals are nonrenewable resources in limited supply Minerals are nonrenewable resources in limited supply
Economic objectives of firms Economic objectives of firms
Video: Properties of water -structure of water and polarity (Ionized and polar compounds)

For a complete list of videos, visit our video library