Solve all of the following questions kindly??? (A) According to the First Fundamental Theorems of Welfare Economics a competitive economy will achieve economic justice.

Reason:

Their are two fundamental theorems of welfare economics that describe the relationship between competitive markets and Pareto efficiency.

The first describes the market as equal for both buyers and sellers with perfect competition and economic equilibrium in the market which shows that their is no such thing as market power and the competitive environment in the market will only unable the equality in terms of economy as well.

[3/25, 15:53] Festuh: The key variable that answers the fundamental questions in microeconomics and what drives the economy is prices. Economic agents react to prices they face and the forces of demand and supply are the function of prices.

So the correct option is option a.

Positive economics refers to the statement of things as they are or a description of reality. So the correct option that best describes the positive economics is option a. That is, it is the way things are.

So the correct option is option a.

The example of perfect competition in a way can be stock market since there are large number of sellers and buyers of the same underlying stock and there are no barriers to entry of new buyers and sellers.

So the correct option is option C, the stock market.

The fact that water is more essential for life than diamond is true but the statement that twin forces of demand and supply dictate that water is just as expensive as diamond is false. Since the water on planet is available in abundance relative to diamond. While the demand for water might be high the supply is very low for diamond hence its price is higher than the price of water.

So the statement is false.

A firm with low operating leverage is characterized by while one with low financial leverage is characterized by O high variable cost of production; high variable financing costs. high fixed costs of production; high fixed financing costs. O high fixed costs of production; low variable financing costs. O low fixed cost of production; low fixed financing costs. O low costs of production: high fixed financing costs.Identify the population being studied and the sample chosen. The midterm exam scores of 5 out of the 22 students in your economics class. Answer Population: All students taking an economics class. "Sample: 5 out of the 22 students in your economics class, Population: All students in your economics class.Vicarious liability is an important ares of business liability. Choose the best statement of the principle of vicarious liebility. Vicarious liability applies to a number of different fact scenarios, including the liability of employers for tortious actions of employees that were committed in the normal course of employment or pursuant to the employees assigned duties or tasks, even where the employer is not at fault. Vicarious liability applies only to businesses. No jurisdiction in Canada imposes vicarious liability on the owners of motor vehicles. A person, such as an employer, is liable for all the torts committed by employees during working hours A business may substitute another person to perform a service or perform an obligation