If resources were not scarce, the resource allocation problem would be concerned solely with profit maximization.

Name: If resources were not scarce, the resource allocation problem would be concerned solely with profit maximization.
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Question

Quizplus · Accepted Answer

If resources were not scarce, there would be no need to allocate them efficiently, as there would be enough resources to satisfy everyone's needs. Therefore, the resource allocation problem would be concerned solely with profit maximization.

If Resources Were Not Scarce, the Resource Allocation Problem Would