Which statement describes the equity‑efficiency trade‑off? Government intervention can increase efficiency in a market. The least...
Which statement describes the equity‑efficiency trade‑off?
Government intervention can increase efficiency in a market.
The least efficient economic outcome is the fairest outcome.
Actions intended to make economic outcomes fairer may cause efficiency to decrease.
There is always a more equitable outcome that is also more efficient.
Homework Answers
The following statement describes the equity‑efficiency trade‑off:-
- Actions intended to make economic outcomes fairer may cause efficiency to decrease
option(C)
to generate more equitable distribution, the productive efficiency might be lowered off.
Add Answer to:
Which statement describes the equity‑efficiency trade‑off?
Government intervention can increase efficiency in a market.
The least...
uestion 5 of 34 The University Health Center receives 500 flu vaccinations at the beginning of...
uestion 5 of 34 The University Health Center receives 500 flu vaccinations at the beginning of each flu season. Suppose they offer these vaccines for $20.00 each. Assume that college students have varying budgets- some have some money to spare, some are on a very tight budget. Some students have pre-existing conditions, such as asthma and diabetes that place them at high risk for the flu. a. Who will receive the vaccines if the University Health Center sells them for...
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...
25. If the government believes that a market equilibrium price is too low, it can Implement...
25. If the government believes that a market equilibrium price is too low, it can Implement a . The trade-off for this is that it will create a a. Price ceiling; shortage b. Price ceiling; surplus c. Price floor; shortage d. Price floor; surplus 26. Deadweight loss occurs because a. Consumer surplus and producer surplus are not equal. me consumers are willing to pay more than some producers are willing to accept, but they do not exchange. c. The government...
These questions please！ Question 3 (1 point) What would happen without the government's protection of property...
These questions please！
Question 3 (1 point) What would happen without the government's protection of property rights? U Businesses would have less incentive to provide goods and services There would be less government regulation of businesses and prices would be lower for consumers. U Taxes would be lower, causing less market inefficiencies U Businesses would have more freedom with production processes Question 4 (1 point) What does inflation cause? incomes to fall productivity to increase the government to lower taxes...
I need help with these Mcq's please. Thank you 37. Efficiency in a market is achieved...
I need help with these Mcq's please. Thank you
37. Efficiency in a market is achieved when cial planner intervenes and sets the quantity of output after evaluating buyers willingness to pay and sellers' costs the sum of producer surplus and consumer surplus is maximized all firms are producing the end at the same low cost per unit. no buyer is willing to pay more than the equilibrium price for any unit of the good. C ( 38. Total surplus...
improves efficiency at the expense of equality Which of the folloying is an out-of-pocket expense of...
improves efficiency at the expense of equality Which of the folloying is an out-of-pocket expense of attending college but not an opportun cost? ) room and board ome uition all theAbove noré of the D 5) Econol nists assume that people act out of self-interest. Which of the following is most consister that assumption? ■ People ignore the effects of their decisions on others. O People are concerned with the effects of their decisions on others to the extent that...
1. Which statement is TRUE in a market with a price ceiling? a. Buyers and sellers...
1. Which statement is TRUE in a market with a price ceiling? a. Buyers and sellers experience unexploited gains from trade b. Resources are allocated to their most efficient uses. c. The supply of goods is sold by the sellers with the lowest costs. d. The supply of goods is bought by the buyers with the highest willingness to pay ANS 2. A number of cities and states have banned smoking in bars because of secondhand smoke. In cities without...
4. Which of the following is NOT a true statement about market conditions for firms under...
4. Which of the following is NOT a true statement about market conditions for firms under perfect competition a. Each firm will produce as efficiently as possible b. Consumer surplus is maximized. c. Economic profits of firms will always be zero in the long run. d. Government intervention must move markets to equilibrium. c. Price - Long-Run Marginal Cost - min Long-Run Average Cost 5. In the market shown on the graph on the right ATC a. Mark profit maximizing...
15. Which of the following is a true statement about the difference between a price-taker firm and a competitive price-s...
15. Which of the following is a true statement about the difference between a price-taker firm and a competitive price-searcher firm in the long run (more than one answer is correct)? a. Both will sell their products at a price equal to average total cost, but only the price-searcher will produce at minimum average total cost. b. Both will sell their products at a price equal to marginal cost, and only the competitive price searcher will produce at minimum average...
Which statement accurately describes an assumption underlying the successful operation of markets? Select one: a. Individuals...
Which statement accurately describes an assumption underlying the successful operation of markets? Select one: a. Individuals are often overwhelmed by conflicting information. b. Individuals are highly influenced by professional advice. c. Individuals' tastes for goods and services are predetermined. d. Individuals are not always rational. Which aspect of Assumption 1 does the text describe as the more troubling issue in health care? Select one: a. Individuals are rational. b. Individuals know what goods and services are likely to make them...
uestion 5 of 34 The University Health Center receives 500 flu vaccinations at the beginning of each flu season. Suppose they offer these vaccines for $20.00 each. Assume that college students have varying budgets- some have some money to spare, some are on a very tight budget. Some students have pre-existing conditions, such as asthma and diabetes that place them at high risk for the flu. a. Who will receive the vaccines if the University Health Center sells them for...
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...
25. If the government believes that a market equilibrium price is too low, it can Implement a . The trade-off for this is that it will create a a. Price ceiling; shortage b. Price ceiling; surplus c. Price floor; shortage d. Price floor; surplus 26. Deadweight loss occurs because a. Consumer surplus and producer surplus are not equal. me consumers are willing to pay more than some producers are willing to accept, but they do not exchange. c. The government...
These questions please！
Question 3 (1 point) What would happen without the government's protection of property rights? U Businesses would have less incentive to provide goods and services There would be less government regulation of businesses and prices would be lower for consumers. U Taxes would be lower, causing less market inefficiencies U Businesses would have more freedom with production processes Question 4 (1 point) What does inflation cause? incomes to fall productivity to increase the government to lower taxes...
I need help with these Mcq's please. Thank you
37. Efficiency in a market is achieved when cial planner intervenes and sets the quantity of output after evaluating buyers willingness to pay and sellers' costs the sum of producer surplus and consumer surplus is maximized all firms are producing the end at the same low cost per unit. no buyer is willing to pay more than the equilibrium price for any unit of the good. C ( 38. Total surplus...
improves efficiency at the expense of equality Which of the folloying is an out-of-pocket expense of attending college but not an opportun cost? ) room and board ome uition all theAbove noré of the D 5) Econol nists assume that people act out of self-interest. Which of the following is most consister that assumption? ■ People ignore the effects of their decisions on others. O People are concerned with the effects of their decisions on others to the extent that...
1. Which statement is TRUE in a market with a price ceiling? a. Buyers and sellers experience unexploited gains from trade b. Resources are allocated to their most efficient uses. c. The supply of goods is sold by the sellers with the lowest costs. d. The supply of goods is bought by the buyers with the highest willingness to pay ANS 2. A number of cities and states have banned smoking in bars because of secondhand smoke. In cities without...
4. Which of the following is NOT a true statement about market conditions for firms under perfect competition a. Each firm will produce as efficiently as possible b. Consumer surplus is maximized. c. Economic profits of firms will always be zero in the long run. d. Government intervention must move markets to equilibrium. c. Price - Long-Run Marginal Cost - min Long-Run Average Cost 5. In the market shown on the graph on the right ATC a. Mark profit maximizing...
Most questions answered within 3 hours.
-
Question Three
Suppose you as project manager are using the Waterfall
development methodology on a large...
asked 53 minutes ago -
Which statement is not true about welfare in Canada?
A.Benefits typically vary based on one's ability...
asked 1 hour ago -
Please help me with FLOWCHART and UML diagram for class,
thank you!
#include <iostream>
#include <fstream>...
asked 2 hours ago -
3. Describe the “logic circuit” of the Lac operon. Which
proteins are bound or not to...
asked 2 hours ago -
Ayesha’s adjusted gross income is $60,000 in 2019. She donated a
piece of artwork with a...
asked 2 hours ago -
For Dijkstra’s shortest path algorithm:
a. Give the Big-O time for Dijkstra’s shortest path algorithm
and...
asked 2 hours ago -
Phosphorus violates the 'octet rule' in biological molecules,
forming more covalent bonds than expected based on...
asked 2 hours ago -
A 1.3 eV electron has a 10-4 probability of tunneling
through a 2.4 eV potential barrier....
asked 2 hours ago -
What is the one ingredient that is common to being successful
with all stakeholders?
profit
trust...
asked 2 hours ago -
Write an assembly language 32 bit program that reads in lines of
text by a .txt...
asked 2 hours ago -
what is the density ( in g/L) of hydrogen gas at 29 degrees C and a...
asked 3 hours ago -
5-6. You are considering three investment alternatives for some
spare cash: Old Reliable Corporation stock (A1),...
asked 2 hours ago