Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 08, 2024

The Canadian economy would achieve allocative efficiency in which of the following circumstances a)Price equals average cost in all industries b)there are no idle resources

The Canadian economy would achieve allocative efficiency in which of the following circumstances

a)Price equals average cost in all industries

b)there are no idle resources in the economy

c)marginal cost is equalized across industries

d)marginal cost equals price in all industries

e)marginal product is equal for all factors of production

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

Recommended Textbook for

Justice In A Global Economy Strategies For Home, Community, And World

Authors: Rebecca Todd Peters, Pamela K Brubaker, Laura A Stivers

1st Edition

0664229557, 9780664229559

More Books

Students also viewed these Economics questions

Question

★★★★★

Suppose that n observations are chosen at random from a continuous pdf fY(y). What is the probability that the last observation recorded will be the smallest number in the entire sample?

Answered: 1 week ago

Question

★★★★★

Cnet.com tests tablet computers and continuously updates its list. As of January 2014, the list included the battery life (in hours) and luminous intensity (i.e., screen brightness, in cd/m2). We...

Answered: 1 week ago

Question

★★★★★

43. For P(Y A) > 0, show that E[X|Y A] = E[X I{Y A}] P(Y A) where I{B} is the indicator variable of the event B, equal to 1 if B occurs and to 0 otherwise.

Answered: 1 week ago

Question

★★★★★

Draw a decision tree depicting the reimbursement policy in Problem 1.

Answered: 1 week ago

Question

★★★★★

Understanding the optimal capital structure Review this situation: Transworld Consortium Corp. is trying to identify its optimal capital structure. Transworld Consortium Corp. has gathered the...

Answered: 1 week ago

Question

★★★★★

For these two options, should you purchase it? Give reasons.

Answered: 1 week ago

Question

★★★★★

In both of the functions for this exercise, you used the double-accumulator pattern to produce the result. In one case it was to produce a list of numbers, and in another case it was to produce a...

Answered: 1 week ago

Question

★★★★★

Nakul works at a bank and has been tasked with reducing the number of invalid checks accepted by bank tellers (e.g., checks without a signature or a date). Nakul researches the problem, generates...

Answered: 1 week ago

Question

★★★★★

In developing customer loyalty, businesses can reap success. Discuss FOUR (4) ways in which customer loyalty can be developed. Explain how an understanding of the following by the company can improve...

Answered: 1 week ago

Question

★★★★★

PROBLEMS IN DESIGN Human Factors has been called "the discovery and application of principles concerning human behavior and characteristics to the design, evaluation, operation, and maintenance of...

Answered: 1 week ago

Question

★★★★★

An accident study shows that a month may be considered as high, medium, or low accidents month with probabilities 0.2,0.3 and 0.6 respectively. The number of accidents follow Poisson distributions...

Answered: 1 week ago

Question

★★★★★

1 Should HR managers adopt an approach to ethics in which there are absolute rights and wrongs, or is it ethically acceptable to take a contingent perspective that could, for example, justify low...

Answered: 1 week ago

Question

★★★★★

1 Do you believe that companies should use an ethical investment policy in investing their pension funds, or is financial performance alone the most important issue? The London Pensions Fund...

Answered: 1 week ago

Question

★★★★★

1 Given the necessity of worldwide economic reform due to the recession, what are the advantages and disadvantages of unionised activity for employees and employers? In the US, labour unions are...

Answered: 1 week ago

Previous Question Next Question