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

Author Question: When economists describe a market for a specific product as being economically "efficient," what do they mean? (Read 54 times)

Tiffanyanne824

  • Full Member
  • ***
  • Posts: 142
on: Oct 12, 2022
When economists describe a market for a specific product as being economically "efficient," what do they mean?
◦ Consumption of the product is such that economic surplus is maximized.
◦ Production techniques are such that resources are used in the most technologically efficient manner.
◦ There are no price controls in place in that market.
◦ The quantity of the product produced and consumed is such that the economic surplus is maximized.
◦ Production of the product is such that economic surplus is maximized.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Tiffanyanne824 on Oct 12, 2022

annaelena92

  • Full Member
  • ***
  • Posts: 167
Reply #1 on: Oct 12, 2022
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


Tiffanyanne824

  • Member
  • Posts: 142
Reply 2 on: Oct 12, 2022
:D TYSM

Animal_Goddess

  • Member
  • Posts: 339
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Cells involved in specific immunity in vertebrates. Cells involved in specific immunity in vertebrates.
How to use the product rule to find the derivative of a function How to use the product rule to find the derivative of a function
Hydroelectric power: 2013 Global Market Hydroelectric power: 2013 Global Market
To find the derivative use product rule To find the derivative use product rule
Excel hardware is introducing a new product on a new product line of capacity 800 units per ... Excel hardware is introducing a new product on a new product line of capacity 800 units per ...
IMAGES THAT DESCRIBE CELLULAR PARTS IMAGES THAT DESCRIBE CELLULAR PARTS
Video: Wound Care

For a complete list of videos, visit our video library