Which of the following are important clearing functions served by price?
A) Provides useful information to both consumers and producers regarding the relative value of a good or service in the market
B) Serves as a rationing device, distributing goods and services to consumers who value them the most
C) Acts as an incentive mechanism, encouraging more resources to markets with shortages through price increases and fewer resources to markets with surpluses through price decreases
D) Allows both consumers and producers to achieve satisfaction from the consumption and production of marketable goods
Correct Answer:
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