Under competitive conditions, market prices
a. are incapable of coordinating the actions of buyers and sellers.
b. generally convey little information about the value and cost of goods.
c. generally bring the self-interest of individuals into harmony with the general welfare.
d. do not usually have much of an effect on the decisions of individuals.

Question

26-05-2018
Business

contestada

Under competitive conditions, market prices
a. are incapable of coordinating the actions of buyers and sellers.
b. generally convey little information about the value and cost of goods.
c. generally bring the self-interest of individuals into harmony with the general welfare.
d. do not usually have much of an effect on the decisions of individuals.

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Please help ....... thank you in advance

MrsTriplet MrsTriplet · Answer 1 · 2018-06-04T19:14:57+02:00

Under competitive conditions, market prices generally bring the self-interest of individuals into harmony with the general welfare. Competitive conditions happen when many products or companies create a competitive good or service with another on the market. The market will help decide what the price of the good or service should be sold at which shoes the true interest the consumers have with the product or service.