--%>
Assignment Help - homework help

Invisible-hand concept

Choose Which one best describes the invisible-hand concept? 1) The desires of resource suppliers and producers to further their own self-interest will automatically further the public interest. 2) The nonsubstitutability of resources creates a conflict between private and public interests and calls for government intervention. 3) The market system is the best system for overcoming the scarce resources-unlimited wants problem. 4) Central direction by the government will improve resource allocation ina capitalistic economy.

   Related Questions in Microeconomics

  • Q : Market hypotheses Efficient market

    Efficient market hypotheses:a) Weak-form efficient market hypothesis: It assumes that current stock prices reflect all security market information including the historical sequence of prices, rates of return, trad

    		•
  • Q : Good taxed revenue of price inelastic

    Government tax revenue would raise most from a specified tax when the good taxed contain a relatively: (w) price elastic demand. (x) price inelastic demand. (y) unitary price elastic demand. (z) flatter demand curve.

    Q : Barriers of entry with oligopoly market

    Barriers of entry tend to be important, and main industries dominated by some huge firms while the market structure is an: (w) monopoly. (x) perfect competition. (y) oligopoly. (z) cartel. Can anybody suggest me th

    		•
  • Q : Economies of Scope problem In the year

    In the year 1960s, suburbanites start to landscape by employing bark which had formerly been discarded whenever Clear-Cut Forestry Products turned logs to lumber whereas decimating old-growth forests. The extra operating revenue to Clear-Cut from selling bags of bark

    		•
  • Q : Competitive Markets-Unions of labor Can

    Can someone please help me in finding out the accurate answer from the following question? The purely competitive labor markets are not characterized through: (w) Most of the individual buyers and sellers of the labor services. (x) Wages equivalent to the marginal res

    		•
  • Q : Define aggregate demand Define

    Define aggregate demand: Aggregate demand is stated as the money value of total goods and services demanded by an economy throughout a particular period.

    		•
  • Q : Present Value and Capitalization The

    The market value of an asset or potential investment project is most specific to rise when typical investors expect: (w) after-tax rates of return by investing to exceed the interest rate applicable for assets or investments along wit

    		•
  • Q : Purely competitive industry in long run

    When a purely competitive industry is into long run equilibrium, in that case the total: (w) costs of all the firms’ combined outputs are minimized. (x) revenues of the industry are maximized. (y) welfare of society is at its mi

    		•
  • Q : Distribution of Wealth When line 0C0'

    When line 0C0' shows the U.S. income distribution, in that case the distribution of wealth would most likely be possible: (1) line 0A0'. (2) line 0B0'. (3) line 0C0'. (4) line 0D0'. (5) line 0E0'.

    Q : Acquire substantial human capital by

    Since philosophers are hardworking and intelligent individuals who should acquire substantial human capital and advanced degrees to work like philosophers, in that case the shaded area B represents: (1) pure profit. (2) consumer surplus. (3) interest

    		•