Q1. Matthew Reeves is listening to a discussion on how resources move to the most efficient allocation. Two of the participants make these statements: Statement 1: When resources are diverted from beer production to wine production, this represents an inefficient allocation from the perspective of the beer producers. Statement 2: Market allocation of resources tends toward efficiency because the value of what a resource can produce determines its allocation in production. With respect to these statements: A) both are correct. B) only statement 2 is correct. C) only statement 1 is correct.
Q2. Fred Heyach and Gord Murdoll are discussing whether or not competitive markets use resources efficiently. Heyach says, “Competition must lead to the efficient allocation of resources. Consumers are willing to pay more for the goods they want most, so producers of those goods can outbid other producers for the resources to make them.” Murdoll replies, “At any one point in time the market might allocate resources efficiently given consumers’ preferences, but as consumers change their minds about which goods they want, the allocation of resources becomes inefficient.” With respect to these statements: A) both are correct. B) only Murdoll is correct. C) only Heyach is correct. | 
发表于 2008-12-31 09:48
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