Explain why resources are used efficiently in a competitive market.

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

See More Books

Question Posted: Dec 15, 2015 07:16 AM

See More Questions

What conditions must be satisfied if resources are used efficiently?
The City of Ashcroft has produced a Service Efforts and Accomplishments report for the past four years in an attempt to answer the question How are we doing? for its citizens. Reproduced here is an...
Multiple Choice Questions: Use the diagram to answer questions 1 through 4. .:. 1. Currently, it is not possible to produce at a. point A. b. point B. c. point E. d. point G. e. either point E or...
Mary Wells Lawrence once said, In this business, you can never wash the dinner dishes and say they are done. You have to keep doing them constantly. If you were a business executive or information...
Suppose x has an exponential distribution with = 2.5. Find the following probabilities: a. P(x 4) b. P(x > 5) c. P(x 2) d. P(x > 3)
Why are there generally no capital projects (work in progress or other long-lived assets) in governments capital projects funds? Why are there generally no long-term debts in debt service funds?
What is a process? Give an example of an organizational process and a personal process.
On December 31, 2010 Brown Company's inventory burned. Sales and purchases for the year had been $1,400,000 and $980,000, respectively. The beginning inventory (Jan. 1, 2010) was $170,000; in the...
The Board of Directors of Acmen Corporation met on July 5, 2020 and declared a stock dividend of 5% of the outstanding share of the company. The common stock has a par value of $10 and there are...
This comprehensive review problem requires you to complete the accounting cycle for Sherman Realty twice. This practice set allows you to review Chapters 1-5 while reinforcing the relationships...
Describe the choices that producers make and explain why producers are efficient on the market supply curve.
In perfect competition, what is the relationship between the demand for the firms output and the market demand?
Describe the GDP deflator and the personal consumption expenditure deflator.
(AVR) PR=IAVR=1R = (power dissipated by a resistor) (28.12) R
As a manager and an entrepreneur, you will face a new challenge - business venture structured on the theory of the firm. You are opening a restaurant in your selected town in the State of NY (please...
Install on ubuntu , please provide a screenshot for each step 1)How to install base64 on ubuntu 2)What kind of analysis is performed by Cuckoo? How to install Cuckoo on ubuntu?
rt a letter to Rose McBride. Writing Plan - Refusal to a Request Rubric Buffer: Start with a neutral statement on which both reader and writer can agree, such as a compliment, appreciation, a quick...
FACTS: The Budvar Company sells parts to a foreign customer on December 1, Year 1, with payment of 20,000 crowns to be received on March 1, Year 2. Budvar enters into a forward contract (with a...
Web Activity: What is the present value of $10,000 10 years from today if the interest rate is 10 percent? You can find the answer in about five seconds by going to...
The Ranch 888 Noodle Company sells two types of dried noodles:ramen, at $6.50 per box, and chow fun, at $7.70 per box. So farthis year, the company has sold a total of 110,096 boxes ofnoodles,...
(Discussion problems for specific not-for-profit transactions) For each of the following transactions, discuss the issues and state the appropriate accounting solution: 1. The Society to Eliminate...
Compare the method used by Box-Office Mojo to calculate real box-office receipts with the method to calculate the real price of a postage stamp. Compare and contrast the real variables that each...
Compare the method used by Box-Office Mojo to calculate real box-office receipts with the method to calculate the real price of a postage stamp. Compare and contrast the real variables that each...
Pete is a student who spends 10 percent of his expenditure on books and supplies, 30 percent on tuition, 30 percent on rent, 10 percent on food and drink, 10 percent on transportation, and the rest...
Suppose you bought a bon with an annual coupon rate of 6.5 percent one year ago for $1,032. The bond sells for $1,020 today. a. Assuming a $1,000 face value, what was your total dollar return on this...
During the year 2021, William has a job as an accountant, he earns a salary of $100,000. He has done some cleaning services work on his own (self-employed), where he earned a net income of $50,000....
Fixed cost per unit is $7 when 25,000 units are produced and $5 when 35,000 units are produced. What is the total fixed cost when 30,000 units are produced? Group of answer choices $150,000....

Explain why resources are used efficiently in a competitive market.

Question:

Step by Step Answer:

Resources are used efficiently in a competitive market because the market demand cur...View the full answer

Microeconomics

Students also viewed these Economics questions