An important part of the market system is that producers and consumers consider the public interest in making production and consumption decisions.

"The Internet is nonrival, which means it's a public good." Do you agree or disagree? Explain

What will be an ideal response?

The classical model is based on the assumption that

a. all markets clear b. all demand curves are horizontal c. all supply curves are vertical d. the government's budget is always balanced e. the quantity of loanable funds demanded is independent of the interest rate