Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Allocationefficiency exists in the economy when: A. All industries are willing to pay the same price for all resources B. Ditch diggers and doctors receive

image text in transcribed

image text in transcribed
Allocationefficiency exists in the economy when: A. All industries are willing to pay the same price for all resources B. Ditch diggers and doctors receive the same wage. C. All industries receive an equal amount of a particular resource. D. All industries are equally satiated with a particular resource

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Microeconomics

Authors: Hal R. Varian

8th edition

393934241, 978-0393934243

More Books

Students also viewed these Economics questions

Question

Is it tenure-track, tenured, or something other designation?

Answered: 1 week ago

Question

What are the need and importance of training ?

Answered: 1 week ago

Question

What is job rotation ?

Answered: 1 week ago

Question

Self-awareness is linked to the businesss results.

Answered: 1 week ago

Question

1. Too reflect on self-management

Answered: 1 week ago

Question

Food supply

Answered: 1 week ago