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

Author Question: When resources are misallocated, or allocated inefficiently (Read 81 times)

ETearle

  • Hero Member
  • *****
  • Posts: 580
on: Apr 19, 2019

Question 1

Assume that price underestimates the value that society places on the flu vaccine. If firms produce where 
P = 
MC, firms will be producing


◦ the socially efficient amount of flu vaccine.
◦ more than the socially efficient amount of flu vaccine
◦ less than the socially efficient amount of flu vaccine.
◦ so that consumer surplus is zero.

Question 2

When resources are misallocated, or allocated inefficiently


◦ market failure occurs.
◦ then there must be external costs or benefits in production.
◦ then it must be the case that there is imperfect information in the market.
◦ then it must be the case that the good is a public good.
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 ETearle on Apr 19, 2019

dmurph1496

  • Sr. Member
  • ****
  • Posts: 343
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


ETearle

  • Member
  • Posts: 580
Reply 2 on: Apr 19, 2019
Wow, this really help

parshano

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Many Natural Resources Can Be Sustained Many Natural Resources Can Be Sustained
As their numbers grow and their resources and health improve, the elderly will enjoy life more and ... As their numbers grow and their resources and health improve, the elderly will enjoy life more and ...
Selective Resources for Pharmacology Selective Resources for Pharmacology
Energy Resources range from inexhaustible to nonrenewable Energy Resources range from inexhaustible to nonrenewable
Marine pollution threatens resources and marine life Marine pollution threatens resources and marine life
Resources from Rocks and Minerals Resources from Rocks and Minerals
Video: Introduction to Macular Degeneration

For a complete list of videos, visit our video library