a. the market allocates buyers to the sellers who can produce the good at least cost.
b. all of these answers are true.
c. none of these answers are true.
d. the market allocates output to the buyers that value it the most.
e. the quantity produced in the market maximizes the sum of consumer and producer surplus.
2007-03-22 15:48:30 · 4 answers · asked by investing1987 3 in Social Science ➔ Economics
B)All are true along with entry and exits are easy for producers, whatever is supplied is demanded, input and output prices will be controlled to constant levels or remain same and in short it will be Paretto optimal.
2007-03-22 22:45:40 · answer #1 · answered by Mathew C 5 · 0⤊ 0⤋
If the market is efficient it matches up buyers to sellers so that demand equals supply...
2007-03-22 22:55:08 · answer #2 · answered by Pagli 2 · 0⤊ 0⤋
c. None of the answers are correct
2007-03-23 00:35:17 · answer #3 · answered by sensekonomikx 7 · 0⤊ 0⤋
b. all of these answers are true.
2007-03-22 23:37:29 · answer #4 · answered by JuanB 7 · 0⤊ 0⤋