Which of the Following Can Prevent Markets from Reaching Efficiency

question 355

Multiple Choice

Which of the following can prevent markets from reaching efficiency? I. decreasing marginal benefit
II) taxes
III) quantity regulations that limit the quantity that may be produced

• A) I and II
• B) I and III
• C) II and III
• D) I, II and III

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Definitions:

Achievement

The accomplishment or attainment of personal goals, often recognized by success or honors.

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, leading to significant changes in technology, economics, and society.

Stratification

The arrangement or classification of society into different layers or classes based on factors like wealth, income, race, education, and power.

1700s

The 1700s, or the 18th century, was a period marked by significant political, cultural, and scientific developments, including the Enlightenment and the start of the Industrial Revolution.