Which of the Following Statements Concerning Efficiency Is Correct

question 102

Multiple Choice

Which of the following statements concerning efficiency is correct?

• A)If a toll road is heavily used so that traffic movement is slowed, the price per vehicle should be reduced since the road is generating more revenue.
• B)Economists advocate high prices for abundant resources and low prices for scarce resources.
• C)If a toll road is heavily used and traffic movement is difficult, the price per vehicle should be increased to shift some traffic to less-crowded roads.
• D)All of these options are desirable in promoting efficient use of scarce road space.

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Definitions:

Jaundice

A medical condition characterized by yellowing of the skin and eyes due to elevated levels of bilirubin in the blood.

Bronchitis

Inflammation of the mucous membranes of the bronchial tree.

Asthma

An allergic reaction to a substance resulting in wheezing, shortness of breath, and difficulty in breathing.

Wheezing

A high-pitched whistling sound made while breathing, often associated with difficulty breathing and often heard with asthma, chronic bronchitis, and other lung diseases.