Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1.Which of these are moral advantages of the perfectly competitive market (PCM)? The PCM guarantees long-term economic equality and provides any public goods that society
1.Which of these are moral advantages of the perfectly competitive market (PCM)?
The PCM guarantees long-term economic equality and provides any public goods that society needs
The PCM respects both buyer's and seller's autonomy and guarantees that each participant in a given economic transaction will benefit from it
The PCM uses an invisible hand to distribute public goods and guarantees that "the customer is always right"
In the PCM, sellers never go out of business, and the "invisible hand" ensures that no one ever acts selfishly
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started