The assertion that if resources are allocated efficiently, they also are allocated fairly is made by
A) all utilitarians.
B) John Rawls, who proposed making the poorest as well off as possible.
C) Robert Nozick, who believes that equality of opportunity is fair.
D) all economists who understand the big tradeoff.
C
Economics
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In perfect competition, what is the relationship between the demand for the firm's output and the market demand?
What will be an ideal response?
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Consumers maximize total utility within their budget constraint by
A) spending the same dollar amount for each good. B) buying the cheapest goods they can find. C) buying whatever they like the best. D) buying the goods with the largest marginal utility per dollar spent.
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