Which of the Following Would Not Be Expected to Occur

question 38

Multiple Choice

Which of the following would not be expected to occur in a purely competitive market in long-run equilibrium?

• A)Consumer and producer surplus will be minimized.
• B)P = MC = lowest ATC.
• C)The maximum willingness to pay for the last unit equals the minimum acceptable price for that unit.
• D)We would expect all of these to occur in the long run in a purely competitive market.

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Definitions:

Valid Measures

Metrics or standards used in research that are accepted as accurate and reliable for assessing or quantifying a specific variable or outcome.

Dissimilar Measures

Different methods or instruments used in research to assess or evaluate various outcomes.

Precise Wording

The careful and exact choice of words to ensure clarity and specificity in communication or research instruments.

Likert-Format Questions

Survey questions that allow respondents to indicate their level of agreement with a statement on a scale, typically from "strongly agree" to "strongly disagree".