In an idealized laissez-faire world, the distribution of products is
a. the most efficient.
b. the most fair.
c. purely random.
d. unpredictable.
a
Economics
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The price elasticity of demand for any particular perfectly competitive firm's output is
A) less than 1. B) 1. C) equal to zero. D) infinite.
Economics
The price received by sellers in a market will increase if the government
a. decreases a binding price floor in that market. b. increases a binding price ceiling in that market. c. increases a tax on the good sold in that market. d. imposes a binding price ceiling in that market.
Economics