Multiple Choice
Perfect competition ensures efficiency in industry output if:
A) the demand and supply curves are perfectly inelastic.
B) the marginal cost of producing the good is zero.
C) the demand and supply curves properly reflect the marginal benefits and costs.
D) the market price of the commodity truly reflects the private costs of production.
Correct Answer:
Verified
Correct Answer:
Verified
Q77: Which of the following is true of
Q78: Use the following figure to answer the
Q79: When do externalities arise?<br>A)When the explicit costs
Q80: Perfect competition in an industry ensures:<br>A)both production
Q81: For which of the following goods will
Q83: The free-rider problem occurs because:<br>a.it is easy
Q84: Tradable permits that establish a maximum amount
Q85: Which of the following aspects of the
Q86: If there is an external cost associated
Q87: Which of the following is a point