Answer:
d) with the permission of the monarch
Explanation:
Answer:
B. prices would do a better job of coordinating the activities of buyers and sellers than markets could.
Explanation:
In 1776, the Scottish economist and philosopher also known as the father of economics, suggested that price was better left to produce better market results than the intervention of guilds.
He was of the opinion that price control and regulations by guilds were disruptions to market play and would not be as efficient as allowing price be determined by the market(buyers and sellers). Adam was a pioneer of the free market economic theory.
I am 100% sure that the correct answer is:
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If I was u I would go with A
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The correct answer is letter B
Consumer surplus is therefore a measure of economic well-being, and the higher its value, the greater the benefit to consumers in that market. We will thus have that the producer surplus is equivalent to the area of the polygon determined by the supply curve and a certain marketing price.
Consumer surplus is one component of the economic surplus, a concept that gained popularity with the English economist Alfred Marshall.
