Which of These Statements Is Generally Accepted by Economists? Perfect

question 53

Multiple Choice

Which of these statements is generally accepted by economists? Perfect competition

• A) provides both equity and efficiency.
• B) provides equity but not necessarily efficiency.
• C) provides efficiency but not necessarily equity.
• D) generally satisfies neither efficiency nor equity.

---

Definitions:

Inventory

The total amount of goods and materials held in stock by a business, including raw materials, work-in-progress, and finished goods.

Labor Force

The total number of people employed or actively seeking employment in a specified market or economy.

Tangible Capital

Physical assets owned by a firm or individual that are used in the production process, such as machinery, buildings, and equipment.

Intangible Capital

Non-physical assets possessed by a company, such as intellectual property, brand recognition, and goodwill.