If a Market Is Missing

question 105

Multiple Choice

If a market is missing:

• A) deadweight loss is zero.
• B) total surplus is maximized.
• C) the market is inefficient.
• D) trades are not mutually beneficial.

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Definitions:

Peripheral Nervous System

Part of the nervous system that consists of the nerves and ganglia outside of the brain and spinal cord, responsible for connecting the central nervous system to limbs and organs.

Medulla

A portion of the brainstem that controls vital functions such as heartbeat and breathing.

Brain

The complex organ located in the skull, responsible for coordinating sensory information, and directing motor responses; center of the nervous system.

Neural Impulse

An electrical signal that travels along a neuron, facilitating the transmission of information in the nervous system.