If a Contestable Market Does Not Satisfy All of the Conditions

question 138

Multiple Choice

If a contestable market does not satisfy all of the conditions of a perfectly competitive market, that contestable market _______________ achieve resource allocative efficiency.

• A)will not
• B)will definitely
• C)could possibly
• D)This is a trick question since only monopolies achieve resource allocative efficiency.

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Definitions:

Dark Triad

A group of three personality traits: narcissism, Machiavellianism, and psychopathy, which are considered socially malevolent and associated with a callous-manipulative interpersonal style.

Dark Triad

A set of three personality traits: narcissism, Machiavellianism, and psychopathy, which are associated with a callous-manipulative interpersonal style.

Psychopathy

A personality disorder characterized by persistent antisocial behavior, impaired empathy and remorse, and bold, disinhibited, and egotistical traits.

Machiavellianism

A personality trait characterized by a cynical disregard for morality and a focus on self-interest and personal gain.