During the colonial period, individual producers
(a) were never required to produce specific goods or services.
(b) were, at times, required by colonial officials to produce certain staples if they wanted to produce cash crops. For example, the early governors of Virginia directed tobacco producers to also plant wheat.
(c) produced only what they were directed to produce by colonial officials as part of an overall plan of colonial development.
(d) received orders directly from England to produce what was viewed as most valuable to England.
(b)
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Joanne can choose to selectively disclose information to her superiors in an attempt to elicit decisions in her favor if:
a. the information is easily available to all. b. she is the only source of the information concerned. c. the information is easily verifiable. d. there are other sources of the same information in the firm.
If a market is in equilibrium, then it is impossible for a social planner to raise economic welfare by increasing or decreasing the quantity of the good
a. True b. False Indicate whether the statement is true or false