Why are prices an accurate reflection of a goods total value


Problem

Are prices an accurate reflection of a good's total value? Are prices an accurate reflection of a good's marginal value? What's the difference? Can you think of a good that has high total value but low marginal value? Use this concept to explain why professional wrestlers earn more than nurses, despite the fact that nurses probably create more total value to society.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

Request for Solution File

Ask an Expert for Answer!!
Microeconomics: Why are prices an accurate reflection of a goods total value
Reference No:- TGS02102968

Expected delivery within 24 Hours