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tekilochka [14]
1 year ago
11

If there is allocative efficiency in a purely competitive market for a product, the maximum price consumers are willing to pay i

s?
Business
1 answer:
Veronika [31]1 year ago
7 0

If there is allocative efficiency in a purely competitive market for a product, the maximum price consumers are willing to pay is <u>equal to the minimum price producers are willing to accept.</u>

<u />

An efficient market exhibits allocative efficiency, also known as allocative efficiency, when resources are allocated in a way that maximizes utility for all participants.

The term "allocative efficiency" refers to the extent to which a given economy's resources are allocated effectively to meet the needs of its consumers and producers. When products, services, and capital are allocated and dispersed efficiently, everyone benefits.

Efficient markets have allocational or allocative efficiency, which ensures that all products and services are allocated to consumers in the most beneficial way possible. It occurs when participants in the market have access to reliable information that allows them to make educated choices about the allocation of their resources.

To know more about allocational/ allocative efficiency refer to:

brainly.com/question/7113859

#SPJ4

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Sally Smith decided to start a sea shell business. Her initial investment in the business consisted of $10,000 in cash. Record t
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Based on the transaction that Sally engaged in, recording it will involve:

  • Debiting cash for $10,000.
  • Crediting equity for $10,000.

<h3>Recording Sally's transaction. </h3>
  • The cash transaction is an investment which will be recorded in the Shareholder's Equity account.
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When cash is increased as was the case here, it should be debited. When equity increases as was the case here once more, it is to be credited.

Find out more on shareholder's equity at brainly.com/question/26384373.

8 0
2 years ago
Stephanie works 40 hours a week at a wage rate of ​$25. ​ This, her total weekly income is ​$1000. On this​ income, she pays tot
telo118 [61]

Stephanie's marginal tax rate is 15%.

<u>Explanation:</u>

The Average tax rate is 8%

she pays $3.75 as the tax on $25 which makes tax rate at this point                           =3.75/25

= 15%

The Marginal tax rate is the percentage of income that has to be paid as tax as a result of a change in the income bracket.

For instance, if tax rate until $1-$1000 is 10%

and for $1000 and above is 20%.

So for every $ earned over and above $1000.The marginal tax rate for that sum is 20%.

3 0
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What are the roles of international trade?
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Answer:

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