Free markets produce allocatively efficient outcomes and have no flaws.
Correct Answer:
Verified
Q72: Allocations that are inefficient are sometimes chosen
Q73: Before a market allocation of goods on
Q74: Economists can objectively evaluate the desirability of
Q75: It is in society's best interest that
Q76: For any combination or outputs, there is
Q78: "Peak pricing" involves setting lower prices at
Q79: Prices influence the distribution of income by
Q80: Politicians always agree with economists about the
Q81: What does the production possibilities frontier imply
Q82: Input-output analysis is commonly used in production
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents