Use the Following Statements to Answer This Question: I

question 68

Multiple Choice

Use the following statements to answer this question: I. The first theorem of welfare economics refers to efficient allocation of goods across groups of consumers, and it does not consider the problem of efficient production of these goods.
II) The only way to achieve an efficient allocation of goods is to use competitive markets.

• A) I and II are true.
• B) I is true and II is false.
• C) II is true and I is false.
• D) I and II are false.

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Definitions:

Survival

The state or fact of continuing to live or exist, typically in spite of an accident, ordeal, or difficult circumstances.

Genes

Basic units of heredity made up of DNA that determine the characteristics and traits inherited from parents to offspring.

Proteins

Large biomolecules or macromolecules consisting of one or more long chains of amino acid residues, which perform a vast array of functions within organisms.

Physical Development

The biological process of growth and change in the human body over time, including size, shape, and motor skills.