From the standpoint of economic efficiency, competitive markets provide:
A. less of a public good than would be efficient.
B. more of a public good than would be efficient.
C. exactly the amount of a public good that is efficient.
D. an efficient amount but at a higher cost.
Answer: A
Economics
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When policy changes are temporary, then:
a. exchange rates do not change. b. expectations do not change. c. interest rates do not change. d. expectations can change based on results.
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When the price of fresh fish increases 10%, quantity demanded is unchanged. The price elasticity of demand for fresh fish is
A. perfectly inelastic. B. inelastic. C. unitary elastic. D. elastic.
Economics