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.

---

Definitions:

Bushels Of Corn

A unit of measurement for volumes of dry commodities, used in this context to quantify corn.

Total Revenue

A rephrased definition: Total Revenue is the full amount of income generated by the sale of goods or services before any expenses are subtracted.

Total Revenue

The aggregate financial gains a corporation obtains from the sale of products or rendition of services within a designated duration.

Profit

The financial gain realized when the revenue earned from selling goods or services exceeds the costs, expenses, and taxes needed to sustain the activity, indicating the financial success of a business.