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Which one of the following best demonstrates the principles of free markets economics? A lumber company in country X is able to harvest trees from the land they own. As part of the license they were granted by their local government to operate, they are required to plant one tree for every tree they cut down. A lumber company in country Z is able to harvest trees from the land they own. They sell the processed lumber to the store willing to pay the highest price. O The forests in country R are owned by the government. The government decides how and when trees are harvested and how the lumber will be processed.

Which one of the following best demonstrates the principles of free markets economics? A lumber company in country X is able to harvest trees from the land they own. As part of the license they were granted by their local government to operate, they are required to plant one tree for every tree they cut down. A lumber company in country Z is able to harvest trees from the land they own. They sell the processed lumber to the store willing to pay the highest price. O The forests in country R are owned by the government. The government decides how and when trees are harvested and how the lumber will be processed.

Microeconomics: Private and Public Choice (MindTap Course List)
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter1: The Economic Approach
Section: Chapter Questions
Problem 3CQ
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Answer this question for me mate. Much appreciated. :)

Which one of the following best demonstrates the principles of free markets economics? O A lumber company in country X is able to harvest trees from the land they own. As part of the license they were granted by their local government to operate, they are required to plant one tree for every tree they cut down. O A lumber company in country Z is able to harvest trees from the land they own. They sell the processed lumber to the store willing to pay the highest price. O The forests in country R are owned by the government. The government decides how and when trees are harvested and how the lumber will be processed.
Transcribed Image Text:Which one of the following best demonstrates the principles of free markets economics? O A lumber company in country X is able to harvest trees from the land they own. As part of the license they were granted by their local government to operate, they are required to plant one tree for every tree they cut down. O A lumber company in country Z is able to harvest trees from the land they own. They sell the processed lumber to the store willing to pay the highest price. O The forests in country R are owned by the government. The government decides how and when trees are harvested and how the lumber will be processed.
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