--%>

Determine the clearest illustration of economic inefficiency

The clearest illustration of economic inefficiency would be: (w) maintaining a warehouse full of pet rocks within hopes such that someday the fad will return. (x) pet rocks being unavailable to people willing to pay a price that exceeds the marginal social costs of producing them. (y) production and sale of pet rock food at high prices. (z) no one making or wanting to buy pet rocks.

How can I solve my economics problem? Please suggest me the correct answer.

   Related Questions in Business Economics

  • Q : Describe four important areas to

    Describe four important areas to emphasize Expenditures?

  • Q : Briefly state the pros and cons of

    Briefly state the pros and cons of Proprietorship?

  • Q : Determine the Relative Price of given

    When turkey is $1 per pound and the relative price of ham to turkey is 2, in that case a pound of ham costs: (i) 50 cents. (ii) 1/2 pound of turkey. (iii) 2 pounds of turkey. (v) 12 pesetas. (iv) 5 euros. How can I

  • Q : Describe the term-Only to be part with

    Describe the term: “Only to be part with it we want money”?

  • Q : Define Operating income approach

    Describe briefly Operating income approach?

  • Q : Who define Theory of Moral Sentiments

    The argument which slicing off one’s pinkie would be extra bothersome to which person than the loss of millions of his brethren was made within A Theory of Moral Sentiments (1755) through: (1) Adam Smith. (2) David Ricardo. (3) Theophrastus Phil

  • Q : What do you mean by Financial Linkages

    What do you mean by Financial Linkages in U.S. and World Trade?

  • Q : Marginal rate of substitution Problem:

    Problem: Luke likes to consumer CDs (good1) and pizzas (good 2). His preference over both goods is given by the utility function U(x1; x2) = x21

  • Q : Loathed monopolization and viewed of

    Adam Smith and most of the typical economists who followed instantly in his footsteps: (i) viewed monopoly as no big problem. (ii) encouraged monopolies due to their research and development abilities. (iii) thought monopoly power was a communist plot

  • Q : Risky forms of production to gain

    Entrepreneurs: (w) undertake risky forms of production to gain uncertain profits. (x) obtain interest payments for their services. (y) are usually overcompensated for their innovations. (z) receive virtually all their wealth by inheritance.