we say that market prices allocate goods to the highest-valued users,we mean that
A) only consumers with higher incomes will get any of the good,while lower income consumers get none of the good.
B) only consumers who value the good more than the market price of the good will choose to buy the good.
C) government allocation of the good is warranted because government can make sure that the good gets consumed by deserving individuals.
D) there is no shortage.
Correct Answer:
Verified
Q6: Natural monopoly arises when
A)there is only one
Q7: Private provision of public goods fails to
Q9: Market or monopoly power leads to market
Q11: Firms with market power
A)face downward sloping average
Q12: less information consumers have about product quality,
A)the
Q13: overallocation of resources in an industry means
Q17: As a policy option for regulating natural
Q18: long-run perfectly competitive equilibrium,economic efficiency is achieved
Q21: A municipal water utility employs quasi-fixed capital
Q22: A municipal water utility employs quasi-fixed capital
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