Given that the firm decides to only offer the high-end wok, what is the highest price it can charge the chefs?

This refers to an increase in government spending that produces a reduction in private spending

A) crowding out. B) investment disappointment. C) social loss. D) deadweight loss.

The "invisible hand" refers to

a. the marketplace guiding the self-interests of market participants into promoting general economic well-being. b. the fact that social planners sometimes have to intervene, even in perfectly competitive markets, to make those markets more efficient. c. the equality that results from market forces allocating the goods produced in the market. d. the automatic maximization of consumer surplus in free markets.