All of the Following Statements Are True Except

question 97

Multiple Choice

All of the following statements are true except

• A)consumers allocate their budgets to get the most value possible.
• B)we derive a consumer's demand curve by finding how the best budget allocation changes as the price of a good changes.
• C)firms get the most value out of their resources at every point along a consumer's demand curve.
• D)a competitive equilibrium achieves an efficient outcome.
• E)when firms in perfect competition are away from the long-run equilibrium,the market is still efficient.

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Definitions:

Neurotransmitter

Chemical substances in the brain that transmit signals from one neuron to another.

Excitatory Response

A reaction in neural tissue that increases the likelihood of a neuron firing an action potential, typically facilitated by neurotransmitters.

Voltage Shift

A change in the electrical potential difference between two points, which can affect the flow of electricity in a circuit.

Excitatory Effect

A response in which a neurotransmitter increases the likelihood that a neuron will fire an action potential.