--%>
Assignment Help - homework help

Help economics !!

The market system's answer to the fundamental question "Who will get the goods and services?" is essentially: 1) "Those willing and able to pay for them." 2) "Those who physically produced them." 3) "Those who most need them." 4) "Those who get utility from them."

   Related Questions in Microeconomics

  • Q : Entrepreneurs implicit cost Can someone

    Can someone please help me in finding out the precise answer from the following question. The entrepreneur’s implicit cost would comprise the: (i) Purchase price of the intermediate goods. (ii) Interest payments on loans. (iii) Value of the owner’s labor.

    		•
  • Q : Elasticity Which of the statements

     Which of the statements regarding elasticity is correct? A) Supply is more elastic in the short run than in the long run. B) Demand is more elastic in the short run than in the long run. C) Demand is more elastic when a large number of substitute goods are avail

    		•
  • Q : More willing to hold less cash and more

    When households become more willing to hold less cash and more stocks or bonds, in that case the: (1) level of Aggregate Demand increases. (2) present value of future income falls. (3) interest rate falls. (4) stock market will crash.

    		•
  • Q : Changes in quantity demand determine

    When the price of Kellogg's Corn Flakes goes up by $1.89 to $2.05 and quantity demanded changes with 250 to 210, in that case the price elasticity of demand would be of: (w) .47 (x) .02 (y) 250. (z) 2.14. I need a

    		•
  • Q : Statement of the law of demand All as

    All as well equivalent, consumers will buy more of a good per time period the lower its price. This is the statement of the law of: (i) Diminishing returns. (ii) Demand. (iii) Supply. (iv) Markets. Can someone please help me in fin

    		•
  • Q : Special characteristic of firms in an

    The special characteristic of firms within an oligopoly NOT determined in other market structures is: (i) homogeneity of product. (ii) interdependence that is mutually recognized. (iii) restricted entry. (iv) a high degree of market power. (v) perfect

    		•
  • Q : Effect of an increase in the price

    Which of the following diagrams depictes(s) the effect of an increase in the price of Budweiser beer on the market for Coors beer? A) A and C. B) A only. C) B only. D) C only. 190_gh.pn</span></p> </div> <!-- /comment-box --> </li> </td> </tr><tr> <td> <li> <div class=

    Q : Problem on market supply of labor Can

    Can someone please help me in finding out the accurate answer from the following question. The marginal resource cost for monopsonist in the labor market which can’t wage discriminate: (1) Is perfectly elastic. (2) Is perfectly inelastic. (3) Lies above the mark

    		•
  • Q : Minimum Wage Laws-Group least likely to

    Can someone help me in finding out the right answer from the given options. The group which is least likely to be helped by the minimum wage law is: (1) African-American teenagers. (2) Skilled industrial workers. (3) Members of the unions. (4) Experienced construction

    		•
  • Q : Opinion about kinked demand curve model

    George Stigler concluded which the kinked demand curve model is incorrect to the extent that this depends on: (w) marginal cost pricing. (x) pure competition. (y) interdependent decision making.  (z) sticky prices.