Multiple Choice
All of the following contribute to the attainment of efficiency in a competitive market except
A) marginal benefit equals marginal cost because of the establishment of market equilibrium
B) every consumer maximizes his or her utility.
C) every producer seeks to get the minimum price he or she is willing to accept.
D) every consumer consumes to the point where price equals marginal benefit.
E) every firm produces to the point where price equals marginal cost.
Correct Answer:

Verified
Correct Answer:
Verified
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Q154: Exhibit 7-5 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6906/.jpg" alt="Exhibit 7-5
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Q156: Exhibit 7-9 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6906/.jpg" alt="Exhibit 7-9
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