In an Efficient Market, a Scarce Good Generally Has a ____

question 188

Multiple Choice

In an efficient market, a scarce good generally has a ____ than a less-scarce good.

• A)higher price
• B)higher total utility to consumers
• C)more even distribution across income classes
• D)lower price in off-peak periods

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Definitions:

Expansion

describes the phase in a business or an economy's lifecycle where it is growing in size, reach, or production capabilities.

Adjacent Lot

A parcel of land located directly next to or in close proximity to another parcel.

Equipment

Physical assets used in the operation of a business, often requiring significant capital investment.

Initial Cost

Refers to the initial expenditure or investment required to start a project, acquire an asset, or launch a business operation.