Which Statement Provides an Explanation for Tariffs Decreasing Market Efficiency

question 51

Multiple Choice

Which statement provides an explanation for tariffs decreasing market efficiency?

• A) The supply of goods is not purchased by the buyers with the highest willingness to pay.
• B) The supply of goods is not produced by the lowest-cost suppliers.
• C) Prices are not equal to the equilibrium price.
• D) Deadweight loss is equal to zero.

Understand the concept of revenues and how they affect equity.

Identify the obligations of a business and how they are represented in accounting.

Understand the basic financial statements and their purposes.

Recognize the concept and importance of tracking business transactions.

---

Definitions:

Rice Wine

A type of alcoholic beverage made from fermenting rice, popular in various East Asian cultures.

Software Developer

A professional who creates, tests, and maintains software applications and systems through the application of programming languages and development tools.

Personal Finance Software

Applications or programs that help individuals manage various financial tasks such as budgeting, investing, tax planning and tracking expenses.

Total Cost

The combined total of all costs needed for the production of goods or services, incorporating both stable and changeable expenses.