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Author Question: Why might it be economically efficient to offer access to an uncongested art gallery or museum at a ... (Read 64 times)

rubiosusy7

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on: Oct 12, 2022

Question 1

The "informal defence" of free markets includes the argument that markets
◦ lead to allocative efficiency.
◦ achieve the maximum feasible rate of economic growth.
◦ lead to productive efficiency.
◦ provide automatic coordination of the actions of decentralized decision makers.
◦ permit a centralization of economic power.

Question 2

Why might it be economically efficient to offer access to an uncongested art gallery or museum at a price of zero?
◦ because they are public goods, which would not be provided by the free market
◦ because they are non-rivalrous and non-excludable and therefore should be provided at a price of zero
◦ because the marginal cost of providing access to one more visitor is zero, while the visitor has a positive marginal benefit
◦ because it is good for society if more people visit art galleries and museums
◦ because the marginal benefit received by the visitor is zero, and marginal benefits and marginal cost should be equal
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by rubiosusy7 on Oct 12, 2022

Asfa

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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.
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rubiosusy7

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Reply 2 on: Oct 12, 2022
:D TYSM

Sarahjh

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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