Highest willingness to pay, Macroeconomics

Assignment Help:

Since anyone is able to obtain a license, not necessarily the low cost suppliers of archery lessons, and it is not necessarily the individuals with the highest willingness to pay who are able to receive a lesson, what does it imply about the efficiency of the larger economy to which the market for archery lessons belongs?

a. the economy is efficient in consumption, production and output levels

b. the economy is not efficient in consumption, production and output levels

c. the quota prevents the market price from acting as an economic signal

d. Price will act as an economic signal, drawing in more archery instructors.


Related Discussions:- Highest willingness to pay

Economic analysis and typical managerial decisions, ECONOMIC ANALYSIS AND T...

ECONOMIC ANALYSIS AND TYPICAL MANAGERIAL DECISIONS Despite the differences between microeconomic analysis and macroeconomic analysis, there is considerable overlapping and inte

Outline each approach as positives and negatives, In a group environment, s...

In a group environment, should leaders be assigned at the beginning of a project or should leaders emerge as the group is working on the project? Outline the positives and negative

IS LM , C=Ca+.95(Y-T) Ca=400-20r T=1200 + .4Y (M/P)^d = .35Y - 5r (M^s/P)=2...

C=Ca+.95(Y-T) Ca=400-20r T=1200 + .4Y (M/P)^d = .35Y - 5r (M^s/P)=2000 Ip=1500-20r G=2200 NX=500-.06Y a. Compute the multiplier b. Derive the equation for Ap c. Derive the equatio

Describe exports and imports in as-ad model, Q. Describe Exports and import...

Q. Describe Exports and imports in AS-AD model? Exports and imports. This is more difficult to justify owing to exchange rate. Suppose that we have a flexible exchange rate a

Consumer Price Index, What is the formula for consumer price index?

What is the formula for consumer price index?

Analyse data using anova, A scientist postulates that grazing by gastropod ...

A scientist postulates that grazing by gastropod snails affects the settlement of Spirorbid worms in estuaries. She sets up a manipulative experiment to test this by using cages to

#title.Functions of money., #qDiscuss the functions of money Illustrate you...

#qDiscuss the functions of money Illustrate your answeruestion..

Produce schematic-block and simplified diagram , An antenna shown in Figur...

An antenna shown in Figure is to be adjusted from its current position to a new desired position by turning a potentiometer at an angle θ i (t) . The potentiometer converts the an

Wi cost of debt and wacc, hi I just found an interesting problem on your pa...

hi I just found an interesting problem on your page,(wood investments ... Mutch PLC) I would like to see the answer Could you please give me a quote for the answer?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd