Choose answer: If the distribution of resources maximizes the total surplus, we say that this distribution...
Choose answer: If the distribution of resources maximizes the
total surplus, we say that this distribution shows
a) evil.
b) benevolence.
c) efficiency.
d) equity.
Homework Answers
Option C
Any event or production activity if the total surplus is maximized then the allocation of resources is said to be efficient as it would not have any loses or wastages in terms of dead weight loss. The presence of dead weight loss is said to be an inefficient process or market
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Choose answer: If the distribution of resources maximizes the
total surplus, we say that this distribution...
The free market equilibrium maximizes the total surplus unless A. Third parties are affected by the...
The free market equilibrium maximizes the total surplus unless A. Third parties are affected by the transactions of buyers and sellers B. One or more sellers has the power to influence the price C. There are costs to society not entirely born by buyers and sellers D. All of the above
when the market is in equilibrium, with no government intervention? a)total surplus is minimized. b)total surplus...
when the market is in equilibrium, with no government intervention? a)total surplus is minimized. b)total surplus is maximized. c)government maximizes total revenue. d) none of the above.
33. Efficiency is attained when a. total surplus is maximized. b. producer surplus is maximized. c....
33. Efficiency is attained when a. total surplus is maximized. b. producer surplus is maximized. c. all resources are being used. d. consumer surplus is maximized and producer surplus is minimized. 34. A price floor is binding when it is set a. above the equilibrium price, causing a shortage. b, above the equilibrium price, causing a surplus. c. below the equilibrium price, causing a shortage. d. below the equilibrium price, causing a surplus. 35. Which of the following is not...
we say that there is a surplus of apples when the quantity demanded is more than...
we say that there is a surplus of apples when the quantity
demanded is more than the quantity supplied at a given price
Question 6 5 pts Read the statement below carefully, and decide whether it is true or false. And then explain your answer (whether "true" or "false"). We say that there is a surplus of apples when the quantity demanded is more than the quantity supplied at a given price. 12pt Paragraph B I y A2 T2 :...
Choose the statement that best describes what is meant when we say that the sample mean...
Choose the statement that best describes what is meant when we say that the sample mean is unbiased when estimating the population mean. Select one: a. We cannot say that the sample mean is unbiased. b. On average, the sample mean is the same as the population mean. c. The standard deviation of the sampling distribution (also called the standard error) and the population standard deviation are equal. d. The sample mean will always equal the population mean.
24) Choose the statement that best describes what is meant when we say that the sample...
24) Choose the statement that best describes what is meant when we say that the sample mean is unbiased when A) The standard deviation of the sampling distribution (also called the standard error) and the population estimating the population mean. standard deviation are equal. B) On average, the sample mean is the same as the population mean. C) The sample mean will always equal the population mean. D) None of these. Use the following information for the next two questions....
Choose the correct answer In a distribution we have Q,=3. Q =15. Qx= 42; the IQR...
Choose the correct answer In a distribution we have Q,=3. Q =15. Qx= 42; the IQR is : A 23 B 29 C39 D32
Second: Multiple Choice Questions, Please choose the Correct answer: (10 points) 1. If elasticity of demand...
Second: Multiple Choice Questions, Please choose the Correct answer: (10 points) 1. If elasticity of demand of health care services equal - 1, we recommend the health care firm to: A. Increase the price of health care services. B. Decrease the price of health care services. C. Make the price of health care services constant. D. All of the above are wrong. 2. In the monopolistic competition market of health care services: A. There are many sellers B. Individual firm's...
Which of the following statements explains the trade-off between equity and efficiency? O A The equity-efficiency...
Which of the following statements explains the trade-off between equity and efficiency? O A The equity-efficiency trade-off represents the nub of the conflict between those who support big government and those who call for smaller government O B The equity-efficiency trade-off represents the balance between ensuring an equitable allocation of resources (equity) and increasing social surplus or total outout O C. The equity-efficiency trade-off represents the balance between ensuring an equitable allocation of resources (equity) and decreasing social surplus or...
33. Efficiency is attained when a. total surplus is maximized. b. producer surplus is maximized. c. all resources are being used. d. consumer surplus is maximized and producer surplus is minimized. 34. A price floor is binding when it is set a. above the equilibrium price, causing a shortage. b, above the equilibrium price, causing a surplus. c. below the equilibrium price, causing a shortage. d. below the equilibrium price, causing a surplus. 35. Which of the following is not...
we say that there is a surplus of apples when the quantity
demanded is more than the quantity supplied at a given price
Question 6 5 pts Read the statement below carefully, and decide whether it is true or false. And then explain your answer (whether "true" or "false"). We say that there is a surplus of apples when the quantity demanded is more than the quantity supplied at a given price. 12pt Paragraph B I y A2 T2 :...
24) Choose the statement that best describes what is meant when we say that the sample mean is unbiased when A) The standard deviation of the sampling distribution (also called the standard error) and the population estimating the population mean. standard deviation are equal. B) On average, the sample mean is the same as the population mean. C) The sample mean will always equal the population mean. D) None of these. Use the following information for the next two questions....
Choose the correct answer In a distribution we have Q,=3. Q =15. Qx= 42; the IQR is : A 23 B 29 C39 D32
Second: Multiple Choice Questions, Please choose the Correct answer: (10 points) 1. If elasticity of demand of health care services equal - 1, we recommend the health care firm to: A. Increase the price of health care services. B. Decrease the price of health care services. C. Make the price of health care services constant. D. All of the above are wrong. 2. In the monopolistic competition market of health care services: A. There are many sellers B. Individual firm's...
Which of the following statements explains the trade-off between equity and efficiency? O A The equity-efficiency trade-off represents the nub of the conflict between those who support big government and those who call for smaller government O B The equity-efficiency trade-off represents the balance between ensuring an equitable allocation of resources (equity) and increasing social surplus or total outout O C. The equity-efficiency trade-off represents the balance between ensuring an equitable allocation of resources (equity) and decreasing social surplus or...
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