Only One of the Following Statements Is Correct

question 153

Multiple Choice

Only one of the following statements is correct.The statements compare perfectly competitive (PC) markets and monopolistically competitive (MC) markets.Which statement is correct?

• A)Productive efficiency is achieved in both PC and MC markets. Allocative efficiency is achieved only in MC markets.
• B)Allocative efficiency is achieved in both PC and MC markets. Productive efficiency is achieved only in PC markets.
• C)Productive efficiency and allocative efficiency are both achieved in PC markets. Neither is achieved in MC markets.
• D)Allocative efficiency is achieved only in PC markets. Productive efficiency is achieved only in MC markets.

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Definitions:

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The branch of the United States Armed Forces that manages military operations on land.

Executive Order 9066

A controversial United States presidential executive order signed during World War II that authorized the forced relocation and internment of thousands of Japanese Americans.

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Individuals hailing from or having ancestry rooted in Japan, encompassing a wide range of cultural, linguistic, and national backgrounds, historically and in contemporary times.

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A U.S. state located in the Pacific Ocean, comprised of islands, known for its diverse landscapes, warm tropical climate, and rich indigenous culture.