Because government agencies lack the kind of competition found in the marketplace, they also can lack:
a. profits.
b. efficiency.
c. cohesion.
d. accountability.
b. efficiency.
When government provides goods or services directly, we might expect it to do so with less efficiency than private firms—except in certain cases where the government agency may compete directly with private firms.
You might also like to view...
The marginal product of labor (measured in units of output) of a firm is given by MPN = A(2000 - N)
where A measures productivity and N is the number of labor hours used in production. Suppose the price of output is $6 per unit and A = 0.002. (a) What will be the demand for labor if the nominal wage is $18? (b) What will be the demand for labor if the nominal wage rises to $21?
The top 5 percent of health care users in the United States account for
A) 30 percent of all health costs. B) over 50 percent of all health costs. C) over 75 percent of all health costs. D) almost 90 percent of all health costs.