Multiple Choice
Which statement is FALSE?
A) Efficiency exists when an economy realizes the maximum possible gains from trade given the available resources.
B) If an economy is efficient,it is possible to make only a few people better off without reducing other individuals' economic welfare.
C) Economic efficiency exists when all opportunities to make people better off have been fully exploited.
D) Free markets usually lead to efficiency,but not necessarily equity.
Correct Answer:
Verified
Correct Answer:
Verified
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