Microeconomics, 10e (Parkin)Chapter 5 Efficiency and Equity1 Resource Allocation Methods1) In the United States, resources are most often allocated byA) market price.B) command system.C) lottery.D) contest.Answer: ATopic: Resource Allocation MethodsSkill: RecognitionQuestion history: Previous edition, Chapter 5AACSB: Reflective Thinking2) A contest is a good way to allocate scarce resources when A) the efforts of the players are hard to monitor directly
