The writer is very fast, professional and responded to the review request fast also. Thank you.
respond to 1 of the discussion questions below and submit your response to the Discussion Area. Use the lessons and vocabulary found in the reading. Support your answers with examples and research and cite your sources using APA format.
choose only one question from the 2
Discussion Question 1:
One of the problems in a competitive market environment is deadweight losses.
Discussion Question 2:
Adam Smith, usually referred to as the father of economics, expounded the theory of free markets and opposed any form of concentration of economic power. He believed that any authority establishing a price that provided a fair price to the providers of the factors of production would distort the market’s natural ability to determine prices and output levels. In general, he believed that competitive markets would allocate resources to their highest and best use. However, in recent times, we have seen the market mechanism fail and allocate too many or too few resources to the consumption or production of some goods and services.
Start reviewing and responding to at least two of your classmates’ postings
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