Which of the following functions is not performed by prices in a free market?
A) Guiding the allocation of resources
B) Conveying information about the marginal cost of production
C) Making the distribution of income more equitable
D) Replacing the need for governmental supervision of production
Correct Answer:
Verified
Q226: Higher prices may serve the public interest
Q227: The laissez-faire free-market system is
A)an ideal of
Q228: Economics can decide
A)the appropriate trade-off between fairness
Q229: Free-market economies have led to
A)high growth rates
Q230: Assuming one can derive a correct input-output
Q232: If MU = MC = P, an
Q233: To equalize traffic on transportation routes, a
Q234: An economy consists of two goods: beef
Q235: How does a free-market system address the
Q236: How does the task of production planning
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