Competitive Markets with No External Costs or Benefits and No

Multiple Choice

Competitive markets with no external costs or benefits and no government price ceilings, floors, taxes or subsidies ________ efficient. According to the "It's not fair if the rules aren't fair" idea of fairness, competitive markets ________ fair.

A) are; are
B) are; are not
C) are not; are
D) are not; are not