An economic system that relies upon some central authority to make economic decisions would be O a. A mixed system O b. A traditional system c. A market system O d. A command system
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![An economic system that relies upon some central authority to make economic decisions
would be
O a. A mixed system
O b. A traditional system
O c. A market system
O d. A command system](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fde9bcf3d-5f69-4255-806c-3eebbf7bc6ea%2F0113d9fd-abf7-4c20-8944-5c1c47760027%2F4a00x7_processed.jpeg&w=3840&q=75)
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- What is productive efficiency? Allocative efficiency?What would be another example of a system in the real world serve could serve as a metaphor for micro and macroeconomics?Macroeconomics is an aggregate of what happens at the Microeconomics level. Would it be possible for what happens at the macro level to differ from how economic agents would react to some stimulus at the micro level? Hint: Think about the behavior of crowds.
- Economic efficiency means using the method that produces given level of output at a. Low cost Ob. More production O c. Better technology O d. All of these given optionsAlexi and Tony own a food truck that serves only twoitems, street tacos and Cuban sandwiches. As shownin the table, Alexi can make 80 street tacos per hourbut only 20 Cuban sandwiches. Tony is a bit faster andcan make 100 street tacos or 30 Cuban sandwiches inan hour. Alexi and Tony can sell all the street tacos andCuban sandwiches that they are able to produce.Output Per HourStreet Tacos Cuban SandwichesAlexi 80 20Tony 100 30a. For Alexi and for Tony, what is the opportunity cost of a street taco? Who has a comparative advantage in the pro-duction of street tacos? Explain your answer. b. Who has a comparative advantage in the production ofCuban sandwiches? Explain your answer. Assume that Alexi works 20 hours per week in thebusiness. Assuming Alexi is in business on his own, graphthe possible combinations of street tacos and Cubansandwiches that he could produce in a week. Do the samefor Tony.d. If Alexi devoted half of his time (10 out of 20 hours) tomaking street tacos and half of…Jamie Finch is crafting the business model for her fashion design firm She just completed the section that describes how har fem plans to compete relative to her rivals Just completed portion of her business model template The J OA Ocore sty Opplan 5 OD. legy OE operation A X and " 3 E S D S 4 C 333 R F N 5 V 44 T G ^ 6 MacBook Pro B DAE Y H & 7 # N U J 8 1 M 1 9 K A O 0 L F command P Time Remaining 00:55:15 M in option ( 1 ? H TH 1 1 Next a delete returr
- Which of the following is not a strength of a market economy? OA. It can adjust to change over time O B. it gives producers and consumers a great deal of freedom O C. it has decentralized decision making OD. there is equitable distribution of resources1. Explain why modern macroeconomics is simply microeconomics, but at a high level of aggregation. 'bricfl,, dia. a the civ V.homework micro.docx - Word (Error de activación de productos) ARCHIVO INICIO INSERTAR DISEÑO DISEÑO DE PÁGINA CORRESPONDENCIA Diana Arenas - REFERENCIAS REVISAR VISTA X Cortar A Buscar - -|11 - A Calibri (Cuerpo) A Aa- A AaBbCcDd AaBbCcDd AaBbC AaBbCcC AABI AaBbCcD ab Copiar Sac Reemplazar 1 Normal 1 Sin espa. Título 1 Título 2 Puesto Subtítulo Pegar N K abe X, x² A - aby - A Copiar formato Seleccionar - Portapapeles Fuente Párrafo Estilos Edición 1. Inefficient allocation of resources occurs when A. society is operating at a point low on the production possibilities frontier B. society is operating at a point high on the production possibilities frontier C. no one can be made better off without having someone else give up something D. it is possible to make some people better off without making others worse off. 2. The marginal revenue curve for a monopolist is always below the demand curve. True or false 3. Under a systems of laissez-faire, output selection is determined by…
- homework micro.docx - Word (Error de activación de productos) ARCHIVO INICIO INSERTAR DISEÑO DISEÑO DE PÁGINA Diana Arenas - REFERENCIAS CORRESPONDENCIA REVISAR VISTA X Cortar A Buscar - - |11 - A Calibri (Cuerpo) A Aa- A AaBbCcDd AaBbCcDd AaBbC AaBbCc AABI AaBbCcD ab Copiar Sac Reemplazar A- aby , A 1 Normal 1 Sin espa.. Título 1 Título 2 Puesto Subtítulo Pegar N K abe X, x² Copiar formato Seleccionar - Portapapeles Fuente Párrafo Estilos Edición 11. Price discrimination only occurs under monopoly. True or false 12. It is true that the distribution process carried out by the price system A. All of the responses are true B. accomplishes the task more efficiently than central planners would. C. favor the rich D. is superior to other rationing mechanisms because it is able to pay attention to individual consumer preferences 13. It is in society's best interest that the MC of the last unit product of a good is equal to its MU. True or false 14. For a monopoly, MC=MRciples of Microeconomics - Spring21 Which of the following is CORRECT? Select one: O a. If a firm is technologically efficient, it is always economically efficient. O b. If a firm is technologically efficient, it is always producing at the lowest costs of production. O c. If a firm is economically efficient, it is always technologically efficient. O d. None of these answers is correct. DUS PAGE NEhomework micro.docx - Word (Error de activación de productos) ARCHIVO INICIO INSERTAR DISEÑO DISEÑO DE PÁGINA CORRESPONDENCIA Diana Arenas - REFERENCIAS REVISAR VISTA X Cortar A Buscar - -|11 - A Calibri (Cuerpo) A Aar A AаBЬСcDd AaBЬСcDd AaBbС AаBbСcС Аав АавЬСсD ab Copiar Sac Reemplazar 1 Normal 1 Sin espa. Título 1 Título 2 Puesto Subtítulo Pegar N K abe X, x² A - aly . A Copiar formato Seleccionar - Portapapeles Fuente Párrafo Estilos Edición 21. Laissez-faire is a policy that espouses central planning. True or false 22. If MU=MC=P, and economist van judge with certainty that the distribution of output is A. Equal B. efficient C. Fair D. Unbiased 23. If arrival and departure delays are frequent early in the morning and late afternoons, but there are no delays during the evening hours, we can conclude that the airport authority A. Charges high landing fees at common departure and arrival times B. Should reduce the number of flights during the busy times C. is concerned about the…SEE MORE QUESTIONS
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