The invisible hand principle indicates that competitive markets can help promote the efficient use of resources
A) if, and only if, businesses recognize their social obligation to keep costs low and use resources wisely.
B) even when market participants care only about their own self interests rather than about the overall efficiency of resource use.
C) only if buyers and sellers really care, personally, about economic efficiency.
D) even if business firms fail to produce goods efficiently.
B) even when market participants care only about their own self interests rather than about the overall efficiency of resource use.
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If you pay $3,000 in taxes on an income of $28,000, and $4,450 in taxes on an income of $38,000, what is your marginal tax rate? Show your work
What will be an ideal response?
A labor union is a(n)
a. single seller of labor on the labor market b. single buyer of labor on the labor market c. organization of workers who produce goods that are sold in union shops d. organization of workers who typically strike to obtain high wage rates e. organization of workers who refuse to work unless they are paid a wage rate above MRP