Outcomes that people neither intend nor design:
A) are always undesirable.
B) can be desirable with the right institutions.
C) are always desirable.
D) are impossible.
Correct Answer:
Verified
Q2: Suppose that you own two farms on
Q3: The pursuit of profits in a competitive
Q4: A competitive firm maximizes profit when marginal
Q5: In the long run, competitive firms want
Q6: Suppose that Sandy owns a farm in
Q8: A free market can naturally allocate production
Q9: Competitive firms want to enter industries in
Q10: Use the following to answer questions:
Figure: Marginal
Q11: Which of the following statements is TRUE?
I.
Q12: Profit maximization occurs when:
A) TR > TC.
B)
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