Which of the Following Is Least Likely to Occur During

question 11

Multiple Choice

Which of the following is least likely to occur during the long run in a perfectly competitive market experiencing economic profits?

• A) A rightward shift in the market supply curve.
• B) An increase in the market quantity demanded.
• C) An increase in marginal revenue.
• D) A decline in the ATC and MC curves.

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Definitions:

Optimal Allocation

The most efficient distribution of resources and efforts among various possible tasks or uses to maximize desired outcomes or objectives.

Social Good

refers to an action or a policy that benefits society at large, often with an emphasis on public resources and welfare.

Marginal Benefit (MB) Curve

A graphical representation that shows the additional satisfaction or utility a consumer receives from consuming one more unit of a good or service.

Pollution Abatement

Actions or measures taken to reduce, control, or eliminate pollution and its negative effects on the environment.