Which of the Following Statements Is False

question 104

Multiple Choice

Which of the following statements is false?

• A)If marginal cost exceeds marginal benefit, too much is being produced.
• B)Taking money from the rich and giving it to the poor does not improve efficiency.
• C)Three conditions must be met to achieve efficiency.
• D)If all consumers experience the same marginal benefit, equity has resulted.
• E)To achieve efficiency, a producer whose marginal cost is lower than his or her competitors should produce more than his or her competitors.

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Definitions:

Scheme

A structured plan or arrangement of ideas or actions intended to achieve a specific goal.

Last-Clear-Chance

A doctrine in tort law that allows a plaintiff to recover damages even if they were partly at fault, under the condition that the defendant had the final opportunity to avoid the accident.

Contributory Negligence

A legal doctrine under which a party can be found to be at fault for their own injury if they contributed to the cause of their harm, potentially limiting or eliminating their right to compensation.

Plaintiff

The party who initiates a lawsuit seeking legal remedy from another party, the defendant, for some injury or damage.