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MrMuchimi
3 years ago
14

Why are command economies usually less efficient than market economies?

Business
2 answers:
dsp733 years ago
8 0
The correct answer is C.) The competition in market economies encourages both quality and low prices

Free market economies enable competition and creation of goods for cheap prices more than command economies.
seropon [69]3 years ago
3 0
<span>Command economies are usually less efficient than market economies because the competition in market economies encourages both quality and low prices.</span>

 

Command economy is an economy in which production, investment, prices, and incomes are determined centrally by a government.

 

The correct answer between all the choices given is the third choice or letter C. I am hoping that this answer has satisfied your query and it will be able to help you in your endeavor, and if you would like, feel free to ask another question.

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What is the cell membrane? ​
Natasha2012 [34]

Answer:

a cell membrane is a double layer of lipids and proteins that surrounds a cell

6 0
3 years ago
One way to interpret the change in Blue Hamster's accounts receivable balance from Year 1 to Year 2 is that more customers purch
mash [69]

Answer:

The balance of account receivable for year 2 is increase from the balance of year 1.

Explanation:

The balance of account receivable for year 2 is increase from the balance of year 1. This means the thee are more credit sales and less receipts from the customers in year 2 as compared to Year 1. Credit sales increases the account receivable balance but it should be settlement in the form of receipts from the customers.  

6 0
4 years ago
Suppose that market demand is Q = 660 – 12P and marginal cost is MC = 5. The consumer surplus in a perfectly competitive market
Ad libitum [116K]

Answer: 15000; 3750

Explanation:

From the question,

Q = 660 – 12P

MC = 5

The consumer surplus in a perfectly competitive market will be:

P = MC

Therefore, P = 5

Q = 660 - 12P = 660 - 12(5) = 660 - 60 = 600

Consumer surplus = 1/2 × (55 - 5) (600)

= 1/2 × 50 × 600

= 15,000

For monopoly, MR = MC

Total Revenue = P × Q

Since Q= 660 - 12P

P = (660 - Q)/12

TR = P × Q

= (660 - Q)/12 × Q

= (660Q- Q²)/12 × Q

MR = (660 - 2Q)/12

MR = MC

(660 - 2Q)/12 = 5

(660 - 2Q) = 5 × 12

660 - 2Q = 60

2Q = 660 - 60

2Q = 600

Q = 600/2

Q= 300

Since P =(660 - Q)/12

= (660 - 300)/12

= 360/12

= 30

Consumer surplus = 1/2 × (55 - 30) (30)

= 1/2 × 25 × 300

= 3750

Therefore, the answer is 15000; 3750

7 0
3 years ago
Aaron promises to sell his boat to Matt, and Matt promises to buy it from Aaron. What type of contract is this? Group of answer
Minchanka [31]

Answer: c. A bilateral contract

Explanation:

In a bilateral contract, the parties involved promise to both perform duties to the other which will make them both an obligor and an obligee.

An obligor is one who owes a duty to another and the obligee is one who a duty is owed to.

Aaron both owes a duty to sell the boat to Matt as well as being owed by Matt the duty to buy his boat. The same goes for Matt thus making this a bilateral contract.

5 0
4 years ago
Which is true about the workplace of Construction workers? It can change. It is never outdoors. It can be in an existing buildin
rosijanka [135]

Answer:

#1, It can change and #3, it can be in an existing building to repair or remodel

Explanation:

Construction is not at a desk.

6 0
3 years ago
Read 2 more answers
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