Which of the Following Is True? When There Are No

Multiple Choice

Which of the following is true? When there are no externalities,public goods,common resources,taxes or subsidies,then
i.allocative efficiency occurs when marginal benefit exceeds marginal cost by as much as possible.
ii.an a competitive equilibrium,resource allocation is efficient.
iii.fair rules require income transfers from the rich to the poor.

A) only ii
B) only i
C) only iii
D) i and ii
E) i and iii