In Competitive Equilibrium,which of the Following Statements Is False

question 19

Multiple Choice

In competitive equilibrium,which of the following statements is false?

• A)Marginal social benefit equals marginal social cost.
• B)Willingness to pay equals marginal cost of production.
• C)The sum of consumer surplus and producer surplus is maximized.
• D)Deadweight loss is maximized.
• E)Resources are used efficiently to produce goods and services that people value most highly.

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Definitions:

Personality and Flow

The interaction between an individual's unique personality traits and their experience of flow, a state of complete immersion and focus in an activity.

Neuroticism

A personality trait characterized by emotional instability, anxiety, moodiness, worry, and fear.

Conscientiousness

A personality trait characterized by organization, dependability, discipline, and a strong sense of duty.

Positive Personality Traits

Positive personality traits are enduring characteristics of individuals that are considered beneficial, desirable, or advantageous within a social or personal context.