Which of the Following Is True of a Competitive Market

question 53

Multiple Choice

Which of the following is true of a competitive market?

• A) The outcome of a competitive market is fair and equitable.
• B) Competitive markets yield efficient outcomes.
• C) Competitive markets allow consumers to gain at the expense of producers.
• D) Competitive markets provide significant economic profits to producers in the long run.
• E) Competitive markets promote business by allowing producers to gain at the expense of consumers.

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Definitions:

Action Button

A clickable element in graphical user interfaces that triggers a specific action or function when pressed.

Insert Tab

A feature in software applications that provides a centralized area for options and commands to insert various elements into a document.

Action Settings

A feature in software applications that allows users to customize the behavior of an interactive element or control.

Action Button

An interactive element in a user interface that triggers a specific action or set of actions when clicked or tapped.