How each market participant cares only about their own self, Ask an Expert

Economics

The Invisible Hand Principle indicates that competitive markets can help promote the efficient use of resources

a. only if buyers and sellers really care, personally, about economic efficiency.

b. even when each market participant cares only about their own self interest rather than about the overall efficiency of resource use.

c. even if business firms fail to produce goods efficiently.

d. if, and only if, businesses recognize their social obligation to keep costs low and use resources wisely.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9290540

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