The invisible-hand concept suggests that.
A. profit maximization is inconsistent with an efficient allocation of resources.
B. government action is necessary to correct for market failures.
C. when firms maximize their profits, society's output will also be maximized.
D. changes in product demands are only randomly reflected in changes in the demands for resources.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The invisible-hand concept suggests that. A. profit maximization is inconsistent with an efficient allocation of resources. B. government ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Denise offers her employees vision, dental, and life insurance. these benefits are:
Answers (1)
The gross earnings of the factory workers for Larkin Company during the month of January are $73,000. The employer's payroll taxes for the factory payroll are $9,200. The fringe benefits to be paid by the employer on this payroll are $6,200.
Answers (1)
Average fixed costs a. will always decrease as output expands. b. will always increase as output increases. c. will remain unchanged as output expands. d. are defined as the change in total costs divided by the change in output.
Answers (1)
On January 10, 2017, a man in Lebanon, Virginia, frustrated with the DMV bureaucracy, paid his DMV bill with 300,000 pennies that he carted into the DMV office in five wheelbarrows.
Answers (1)
Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 2 for $22,000.
Answers (1)
New Questions in Business
How will the general ledger accounts in the trial balance most likely differ if the company were a retail store rather than a wholesale company? how will they differ for a hospital or a government unit?
Answers (1)
Camilo's property, with an adjusted basis of $155,000, is condemned by the state. Camilo receives property with a fair market value of $180,000 as compensation for the property taken. a. What is Camilo's realized and recognized gain? b.
Answers (1)
A decrease in resource prices will increase the incentive of users to purchase the resource. suppliers to provide more of the resource. firms to find and develop substitutes for the resource.
Answers (1)
Garden Company purchased merchandise on account from Parker Company for $88,000 with terms 1/15, net 45. Garden Company returned $12,000 of the merchandise and received full credit from Parker Company.
Answers (1)
Money is a productive asset. Its opportunity cost is: A) The time value of money. B) Valuation. C) Inflation. D) Replacement cost. E) Depreciation.
Answers (1)