Types of rationing:
What will be an ideal response?
-First come first serve= inefficient
-Subjective= arbitrary
-Price=efficient
Economics
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Refer to the table above. The marginal product of workers falls below zero when the ________ worker is hired
A) first B) fourth C) sixth D) seventh
Economics
What a firm must pay for its inputs is referred to as its:
A) production value. B) cost of production. C) opportunity cost. D) loss in production.
Economics