At the market equilibrium, resources are allocated efficiently because:
举一反三
- Markets fail to allocate resources efficiently when
- An increase in market supply and an increase in market demand will result in A: A decrease in equilibrium price and an increase in equilibrium quantity B: A decrease in equilibrium price - the change in equilibrium quantity is indeterminate C: An increase in equilibrium quantity and the change in price is unclear D: all of above
- Taxes are costly to market participants because they: () A: transfer<br/>resources from market participants to the government. B: alter<br/>incentives. C: distort<br/>market outcomes. D: All<br/>of the above are correct.
- When a rent ceiling is imposed in a housing market, the opportunity cost of housing equals the A: rent. B: market equilibrium rent that would prevail in the absence of a rent ceiling. C: value of the time and resources spent searching plus the rent. D: consumer surplus.
- 概念题：市场均衡（ market equilibrium）