A Perfectly Competitive Market Results in Efficiency Because

question 35

Multiple Choice

A perfectly competitive market results in efficiency because

• A)Price is driven down to minimum ATC.
• B)Price rises high enough to equal marginal cost.
• C)Zero economic profit is achieved.
• D)MC < P.

---

Definitions:

Financial Targets

Specific goals set by a business related to financial performance measures, such as revenue, profit margins, or return on investment.

Audit Procedures

Actions taken by auditors to gather evidence regarding the accuracy, completeness, and validity of a company’s financial records and statements.

Fraud Risk Factors

Circumstances or events that increase the risk of fraud within an organization or its financial reports.

Quality Of Information

Pertains to the degree of accuracy, reliability, and relevance of data or information, ensuring it is fit for making decisions.