We cannot say whether one allocation of resources is better than another allocation because ?

Related Mcqs:

A shift in supply will have more effect on price than quantity if ?

A. The price elasticity of supply is – 3 B. The price elasticity of supply is – 0.2 C. The price elasticity of supply is – 2 D. The price elasticity of supply is infinity...

A monopoly may be self-perpetuating because profits may be used for ?

A. research B. cost-saving C. technical advance D. all of the above...

The social costs of monopoly power arises because ?

A. marginal cost is set equal to marginal revenue B. price is less than marginal cost C. marginal consumer benefit is less than marginal revenue D. there is too little output at too high a cost...

The price mechanism cannot ?

A. Act as a signal B. Act as a incentive C. Act as a rationing device D. shift the demand curve...

An example of an indirect tax is ?

A. VAT B. inheritance tax C. income tax D. a tax on profits...