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Which of the Following as Not a Modification of Neoclassical

Question 18

Multiple Choice

Which of the following as not a modification of neoclassical theory that was frequently made by neoclassical economists?


A) large-scale production means that some sellers will necessarily be large enough to affect market prices.
B) the distribution of ownership of factors of production is so unequal that the entire system is unfair.
C) some commodities that are consumed socially and are important to society even though they may not be profitable for a capitalist to produce and sell.
D) the production of some commodities (e.g., automobiles) often involves social costs (smog) that are far in excess of the private costs of the production.
E) none of the above.

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