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Introduction to Microeconomics

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Question 72

Which of the following is an unavoidable consequence of the fundamental economic problem of scarcity?

All resources will be allocated equitably by the free market

Economic agents must make choices that involve opportunity costs

Governments must provision all goods and services to prevent market failure

Diseconomies of scale will occur as firms attempt to increase output to match unlimited wants

Introduction to Microeconomics Questions

  1. A Level
  2. /Economics
  3. /Introduction to Microeconomics