Efficient Markets

question 101

Multiple Choice

Efficient markets:

• A) maximize total surplus.
• B) can occur without a central planner.
• C) occur when a perfectly competitive, well-functioning market is in equilibrium.
• D) All of these are correct.

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Definitions:

VSEPR

Valence Shell Electron Pair Repulsion theory, a model used to predict the geometry of individual molecules from the number of electron pairs surrounding their central atoms.

Lewis Structures

Diagrams that represent the valence electrons of atoms within a molecule, indicating the bonding between atoms and the lone pairs of electrons.

Elemental Symbol

A one or two-letter notation derived from the Latin name of a chemical element used to represent it in the periodic table, such as H for hydrogen.

Lewis Structure

Lewis structures, also known as Lewis dot diagrams, are a graphical representation of molecules showing how valence electrons are distributed among the atoms and indicating the bonds between atoms.