With No Externalities a Competitive Market Will Tend Distribute Resources

question 57

Multiple Choice

With no externalities a competitive market will tend distribute resources:
(i) efficiently
(ii) fairly
(iii) equally

• A)(i) only
• B)(ii) only
• C)(iii) only
• D)(i) and (ii)

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Definitions:

Low Frequency

Pertains to waves, such as sound or electromagnetic waves, that have a relatively low rate of oscillation or cycles per second.

Place Theory

A theory in psychology that proposes the perception of sound depends on where each component frequency produces vibrations along the basilar membrane of the inner ear.

High-Pitched Sounds

Sounds that have a high frequency, typically perceived as "shrill" by the human ear.

Hair Cells

Sensory cells located in the inner ear, vital for the conversion of sound waves into electrical signals for hearing and helping in the maintenance of balance.