Question

Resources tend to be allocated inefficiently when goods Group of answer choices are private goods. are rival in consumption and excludable. are available free of charge. are available only at very high prices.

Answer 1

Resources tend to be allocated inefficiently when goods C. are available free of charge.

What is an inefficient allocation of resources?

An inefficient resource allocation occurs when goods and services are not optimally distributed in an economy.

In such a situation, the social or true cost exceeds the price consumers are willing to pay for a unit of the product.

Thus, resources tend to be allocated inefficiently when goods C. are available free of charge.

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