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Direct controls are considered inefficient because all firms are forced to pay the same costs. true...

Direct controls are considered inefficient because all firms are forced to pay the same costs. true or false

Demand for an input is derived from the demand for the final product. True or false

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Answer #1

1. True. Direct controls are considered inefficient because all firms are forced to pay the same costs. The social surplus reduces. All the firms in the economy do not obtain same profits and also their costs differ. Putting direct controls will lead to inefficiency in the economy.

2. True. Demand for an input is derived from the demand for the final product. The demand for inputs is also called as derived demand. This means that demand is created when there is anincrease in demand in the particular product. For example the demand for making houses create demand for cement, stone, iron etc.

NOTE: I HOPE YOU WILL BE SATISFIED WITH MY ANSWER PLEASE DO PROVIDE RATING. THANK YOU AND HAVE A NICE DAY. :))

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