Answered

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A good's market price collapses all relevant information about its uses into one number.
a. true
b. false

Sagot :

The statement, a good's market price collapses all relevant information about its uses into one number, is true.

Market price is dependent on the interaction between the demand and supply components of a market. Demand and supply represent the willingness of consumers and producers to engage in buying and selling in market. Thus, a goods market price collapses all relevant information.

The price at which the quantity supplied equals quantity demanded is called the market price. As the price falls, the quantity demanded increases since consumers are now willing to buy more of the product at the lower price.

Hence, option A is correct.

To learn more about Market price here:

https://brainly.com/question/17205622

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