Which of the Following Statements Is True

question 122

Multiple Choice

Which of the following statements is true?

• A) The total cost of production in a perfectly competitive market can be minimized only when the marginal costs across firms in the market are different.
• B) When a competitive market is allowed to operate efficiently, firms end up producing goods using the least amount of scarce resources.
• C) Under a perfectly competitive framework, a ruling authority is essentially required to dictate goals for the betterment of society.
• D) A firm interested in maximizing profits in a perfectly competitive market will produce output at a level where marginal revenue is equal to the price and greater than the marginal cost.

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Definitions:

Fully Functioning Person

A term coined by Carl Rogers to describe an individual who is living at their highest potential of emotional and psychological well-being.

Spontaneity

The quality of being performed or occurring as a result of sudden inner impulse or inclination without premeditation or external stimulus.

Incongruence

A discrepancy between a person’s self-concept and aspects of his or her experience.

Conditional Positive Self-Regard

A state where individuals approve of themselves based on meeting certain conditions or standards set by themselves or others.