Which of the Following Is a True Statement with Regard

question 84

Multiple Choice

Which of the following is a true statement with regard to competitive markets?

• A)Self-interested individuals do not promote the general welfare in competitive markets,only in regulated markets.
• B)Competition promotes prosperity best when price controls are implemented.
• C)Policies that make it easy to enter and exit business promote competition and economic progress.
• D)All of the above are correct.

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Definitions:

Marginal Utility per Dollar

The additional satisfaction or utility gained from consuming one more unit of a good or service, divided by its cost.

Potatoes

Tubers of the plant Solanum tuberosum, widely used as a staple food item, grown in various parts of the world.

Clams

Marine or freshwater mollusks with a bivalve shell, often used as food.

Marginal Utility

The surplus satisfaction or utility experienced by an individual from consuming an extra unit of a particular good or service.