Multiple Choice
All of the following statements are true except
A) consumers allocate their budgets to get the most value possible.
B) we derive a consumer's demand curve by finding how the best budget allocation changes as the price of a good changes.
C) firms get the most value out of their resources at every point along a consumer's demand curve.
D) a competitive equilibrium achieves an efficient outcome.
E) when firms in perfect competition are away from the long-run equilibrium,the market is still efficient.
Correct Answer:

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Correct Answer:
Verified
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