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

The structural deficit, The structural deficit: A. falls as the economy exp...

The structural deficit: A. falls as the economy expands and rises when it contracts. B. changes as actual income changes regardless of potential income. C. does not change when inc

Stages and various coordination mechanisms involved in polic, explain the s...

explain the stages and various coordination mechanisms involved in policy processes.

What does macroeconomics mean, The study of the overall aspects and working...

The study of the overall aspects and workings of a national economy is like as income, output, and the interrelationship between diverse economic sectors. It is the study of all as

Intertemporal choices , ) Consider an economy where individuals live for 2 ...

) Consider an economy where individuals live for 2 periods and have prefer- ences represented by ln(c) + ß ln(c') where c and c' represent consumption in the first and second perio

What are the market interest rates, What are the Market interest rates ...

What are the Market interest rates The most important interest rates from a macroeconomic perspective are interest rates that the government pays on the loans they use to finan

Fiscal policy have occurred, What were the key provisions of the economic s...

What were the key provisions of the economic stimulus bill passed by congress in February 2008? What further changes in fiscal policy have occurred since this time?

Commercial transactions in blood from the egoistic, Examine the pros and co...

Examine the pros and cons of commercial transactions in blood from the egoistic, the utilitarian, and the Kantian perspectives.

How much money can banks create, How much money can banks create? Does...

How much money can banks create? Does this mean that banks can create an unlimited amount of money? The answer is no - that would require them to lend an unlimited amount of m

For high school graduates increase the wage, Arrow up or down: An increase ...

Arrow up or down: An increase in the wage for high school graduates __________ the opportunity cost of college. A) arrow up B) Arrow down

Theory of aggregate demand, unplandned change in inventory are coutned as i...

unplandned change in inventory are coutned as investment spending by firms

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