The Short- Run Competitive Equilibrium Is Efficient Because

question 54

Multiple Choice

The short- run competitive equilibrium is efficient because:

• A)additional sales will not cover the market value of needed resources.
• B)consumer surplus is maximized.
• C)no one can be made better off by making someone else worse off.
• D)producer surplus is maximized.

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Definitions:

Hunter

An individual or entity that pursues and captures or kills wildlife for food, recreation, or trade.

Symbolic

Pertaining to the use of symbols or symbolism to represent ideas, beliefs, or objects, often to convey complex concepts in an abstract manner.

Appetites

Natural desires or cravings, especially for food.

Erratic

Characterized by lack of consistency, regularity, or uniformity; unpredictable.