Section 7.3 in the textbook discusses how markets provide efficient answers to the following 3 questions:...

 

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Section 7.3 in the textbook discusses how markets provide efficient answers to the following 3 questions: 1. Who makes what? 2. Who gets what? 3. How much gets bought and sold? Consider the market for N95 respirators e in the US. N95 respirators are important personal protective equipment for for health care workers and other medical first responders. They are also used by woodworkers to protect from dust and other small particulates. The COVID19 pandemic has both decreased supply and increased demand for N95 respirators. These changes in the market have increased the price and decreased the quantity of N95 respirators. For now, let's assume that the global market for N95 respirators is in equilibrium and that there is no government intervention in the market. Analyze the market for N95 respirators using the 3 questions listed above. Is the market working "efficiently" by correctly answering these 3 questions? Explain. After you analyze the market using the 3 questions, think about what we mean by a statement like "markets yieid more efficient autcomes." Write a paragraph about market efficiency in the context of N95 masks. For example, you might want to answer one of the following questions: • Are these the right 3 questions to ask about N95 respirators? • What should matter other than efficiency when we make decisions about the production and distribution of N95 respirators? How highly should we weight economic efficiency when we think about N95 respirators? • Is this focus on efficiency of the N95 respirator market ethical? Post both your analysis of the 3 questions and your thoughts about the efficiency of the N95 respirator market. Respond to at least one other post with Section 7.3 in the textbook discusses how markets provide efficient answers to the following 3 questions: 1. Who makes what? 2. Who gets what? 3. How much gets bought and sold? Consider the market for N95 respirators e in the US. N95 respirators are important personal protective equipment for for health care workers and other medical first responders. They are also used by woodworkers to protect from dust and other small particulates. The COVID19 pandemic has both decreased supply and increased demand for N95 respirators. These changes in the market have increased the price and decreased the quantity of N95 respirators. For now, let's assume that the global market for N95 respirators is in equilibrium and that there is no government intervention in the market. Analyze the market for N95 respirators using the 3 questions listed above. Is the market working "efficiently" by correctly answering these 3 questions? Explain. After you analyze the market using the 3 questions, think about what we mean by a statement like "markets yieid more efficient autcomes." Write a paragraph about market efficiency in the context of N95 masks. For example, you might want to answer one of the following questions: • Are these the right 3 questions to ask about N95 respirators? • What should matter other than efficiency when we make decisions about the production and distribution of N95 respirators? How highly should we weight economic efficiency when we think about N95 respirators? • Is this focus on efficiency of the N95 respirator market ethical? Post both your analysis of the 3 questions and your thoughts about the efficiency of the N95 respirator market. Respond to at least one other post with Section 7.3 in the textbook discusses how markets provide efficient answers to the following 3 questions: 1. Who makes what? 2. Who gets what? 3. How much gets bought and sold? Consider the market for N95 respirators e in the US. N95 respirators are important personal protective equipment for for health care workers and other medical first responders. They are also used by woodworkers to protect from dust and other small particulates. The COVID19 pandemic has both decreased supply and increased demand for N95 respirators. These changes in the market have increased the price and decreased the quantity of N95 respirators. For now, let's assume that the global market for N95 respirators is in equilibrium and that there is no government intervention in the market. Analyze the market for N95 respirators using the 3 questions listed above. Is the market working "efficiently" by correctly answering these 3 questions? Explain. After you analyze the market using the 3 questions, think about what we mean by a statement like "markets yieid more efficient autcomes." Write a paragraph about market efficiency in the context of N95 masks. For example, you might want to answer one of the following questions: • Are these the right 3 questions to ask about N95 respirators? • What should matter other than efficiency when we make decisions about the production and distribution of N95 respirators? How highly should we weight economic efficiency when we think about N95 respirators? • Is this focus on efficiency of the N95 respirator market ethical? Post both your analysis of the 3 questions and your thoughts about the efficiency of the N95 respirator market. Respond to at least one other post with Section 7.3 in the textbook discusses how markets provide efficient answers to the following 3 questions: 1. Who makes what? 2. Who gets what? 3. How much gets bought and sold? Consider the market for N95 respirators e in the US. N95 respirators are important personal protective equipment for for health care workers and other medical first responders. They are also used by woodworkers to protect from dust and other small particulates. The COVID19 pandemic has both decreased supply and increased demand for N95 respirators. These changes in the market have increased the price and decreased the quantity of N95 respirators. For now, let's assume that the global market for N95 respirators is in equilibrium and that there is no government intervention in the market. Analyze the market for N95 respirators using the 3 questions listed above. Is the market working "efficiently" by correctly answering these 3 questions? Explain. After you analyze the market using the 3 questions, think about what we mean by a statement like "markets yieid more efficient autcomes." Write a paragraph about market efficiency in the context of N95 masks. For example, you might want to answer one of the following questions: • Are these the right 3 questions to ask about N95 respirators? • What should matter other than efficiency when we make decisions about the production and distribution of N95 respirators? How highly should we weight economic efficiency when we think about N95 respirators? • Is this focus on efficiency of the N95 respirator market ethical? Post both your analysis of the 3 questions and your thoughts about the efficiency of the N95 respirator market. Respond to at least one other post with Section 7.3 in the textbook discusses how markets provide efficient answers to the following 3 questions: 1. Who makes what? 2. Who gets what? 3. How much gets bought and sold? Consider the market for N95 respirators e in the US. N95 respirators are important personal protective equipment for for health care workers and other medical first responders. They are also used by woodworkers to protect from dust and other small particulates. The COVID19 pandemic has both decreased supply and increased demand for N95 respirators. These changes in the market have increased the price and decreased the quantity of N95 respirators. For now, let's assume that the global market for N95 respirators is in equilibrium and that there is no government intervention in the market. Analyze the market for N95 respirators using the 3 questions listed above. Is the market working "efficiently" by correctly answering these 3 questions? Explain. After you analyze the market using the 3 questions, think about what we mean by a statement like "markets yieid more efficient autcomes." Write a paragraph about market efficiency in the context of N95 masks. For example, you might want to answer one of the following questions: • Are these the right 3 questions to ask about N95 respirators? • What should matter other than efficiency when we make decisions about the production and distribution of N95 respirators? How highly should we weight economic efficiency when we think about N95 respirators? • Is this focus on efficiency of the N95 respirator market ethical? Post both your analysis of the 3 questions and your thoughts about the efficiency of the N95 respirator market. Respond to at least one other post with Section 7.3 in the textbook discusses how markets provide efficient answers to the following 3 questions: 1. Who makes what? 2. Who gets what? 3. How much gets bought and sold? Consider the market for N95 respirators e in the US. N95 respirators are important personal protective equipment for for health care workers and other medical first responders. They are also used by woodworkers to protect from dust and other small particulates. The COVID19 pandemic has both decreased supply and increased demand for N95 respirators. These changes in the market have increased the price and decreased the quantity of N95 respirators. For now, let's assume that the global market for N95 respirators is in equilibrium and that there is no government intervention in the market. Analyze the market for N95 respirators using the 3 questions listed above. Is the market working "efficiently" by correctly answering these 3 questions? Explain. After you analyze the market using the 3 questions, think about what we mean by a statement like "markets yieid more efficient autcomes." Write a paragraph about market efficiency in the context of N95 masks. For example, you might want to answer one of the following questions: • Are these the right 3 questions to ask about N95 respirators? • What should matter other than efficiency when we make decisions about the production and distribution of N95 respirators? How highly should we weight economic efficiency when we think about N95 respirators? • Is this focus on efficiency of the N95 respirator market ethical? Post both your analysis of the 3 questions and your thoughts about the efficiency of the N95 respirator market. Respond to at least one other post with

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In a market economy most economic decision making is done through voluntary transactions according to the laws of supply and demand A market economy gives entrepreneurs the freedom to pursue profit by ... View the full answer