If There Is Underproduction in a Competitive Market, the Quantity

question 160

Multiple Choice

If there is underproduction in a competitive market, the quantity produced is ________than the efficient quantity and the marginal benefit to society is________ than the marginal cost.

• A)greater; greater
• B)greater; less
• C)less; less
• D)less; greater

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Definitions:

Xylem

Complex vascular tissue of plants; cell walls of its dead tracheids and vessel elements form tubes that distribute water and mineral ions through the plant body.

Tracheids

Component of xylem. Tapered cells that die when mature; pitted walls that remain interconnect with other tracheids to form water-conducting tubes.

Vessel Elements

Of xylem, cells that form in stacks and die when mature; their pitted walls remain to form water-conducting tubes. Each tube consists of a stack of vessel elements that meet end to end at perforation plates.

Stomata

Small openings on the surface of leaves and stems that allow for gas exchange.