Which of the Following Is NOT Required for the Market

question 45

Multiple Choice

Which of the following is NOT required for the market equilibrium to be efficient?

• A) Consumers and producers must be well informed.
• B) The market must be perfectly competitive.
• C) The equilibrium price must be considered fair and just.
• D) The supply curve must include all the costs of production.
• E) The demand curve must include all the benefits of consumption.

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Definitions:

Organizational Subunits

Smaller, specialized divisions within an organization that focus on specific tasks or missions, contributing to the larger organizational goals.

Information Power

The influence and control one gains from possessing valuable data or knowledge.

Referent Power

A form of influence based on the leader's personal attributes, where followers identify with and want to emulate the leader.

Affection

pertains to feelings of fondness or tenderness directed towards someone or something, influencing interpersonal relationships and behaviors.