Determine if the statements below are true or false and label each accordingly T

Question

Determine if the statements below are true or false and label each accordingly

The invisible hand leads to firms charging a price that is equal to marginal cost in both competitive and non-competitive markets.

In order for the invisible hand to work, prices have to be accurate signals.

The invisible hand principle is that self-interest is often aligned with social interest.

The invisible hand principle works particularly well for goods associated with externalities.

The invisible hand suggests that government should play an active role in deciding what goods and services should be produced

Explanation / Answer

Following are the statement:

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