In a market economy Group of answer choices   All the other answers are true for the market economy.   consumers buy what makes them better off.   those goods and services that people will buy, will be produced.   producers and sellers produce/sell goods and services that are profitable to produce/sell.

Difference between perfect market and imperfect market? The answer should be brief, concise and strong.

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Question 6 Discuss TWO major virtues of a market system.

A small island off the coast of Cape Cod contains two restaurants and two retail stores. Tourists need to take a ferry boat to reach the island, but with a recent slowdown in the economy, tourists are less willing to pay for the boat ride to visit the island. The owners of the restaurants and stores on the island - Restaurants 1 and 2, and Stores A and B- think that if tourists could ride the ferry for free, they would be happy to visit the island, eat and shop. The business owners are considering contributing to a pool of money that will be used to pay for roundtrip ferry service each day. The table represents their willingness to pay, that is, the maximum amount that each business owner is willing to contribute, per day, to pay for each ferry trip. Store Restaurant 1 Restaurant 2 Store A B First ferry trip $300 $400 $200 $180 Second ferry trip 200 350 150 90 Third ferry trip 100 300 100 30 Fourth ferry trip 50 250 50 50 0 Suppose the cost to run the ferry for each roundtrip is $750…

25- : If supply and demand increase at the same rate at the point where the supply-demand balance is achieved in a perfectly competitive market, how will the new equilibrium point change?    a) price goes up quantity goes up  B) price goes up, quantity goes down  NS) price goes down quantity goes down  D) price does not change quantity increases  TO) price goes down quantity goes up

In a market-based economy, how may governmental policies or regulation impact the inputs market? They can affect workers' willingness to work or firms' willingness to hire. They can affect consumers' willingness to buy They can affect consumers' willingness to buy or firms willingness to produce. They can affect firms' willingness to produce. They can affect workers' willingness to work. They can affect firms' willingness to hire.