Only One of the Following Statements Is Correct

question 153

Multiple Choice

Only one of the following statements is correct.The statements compare perfectly competitive (PC) markets and monopolistically competitive (MC) markets.Which statement is correct?

• A)Productive efficiency is achieved in both PC and MC markets. Allocative efficiency is achieved only in MC markets.
• B)Allocative efficiency is achieved in both PC and MC markets. Productive efficiency is achieved only in PC markets.
• C)Productive efficiency and allocative efficiency are both achieved in PC markets. Neither is achieved in MC markets.
• D)Allocative efficiency is achieved only in PC markets. Productive efficiency is achieved only in MC markets.

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Definitions:

Cervical Curve

The natural curvature of the cervical spine (neck) that forms a slight inward C-shape, or lordosis.

Vertebrae

The series of small bones forming the backbone, protecting the spinal cord and supporting the body.

Ligament

A short band of tough, flexible, fibrous connective tissue that connects two bones or cartilages or holds together a joint.

Cranial Suture

A fibrous joint that connects the bones of the skull, allowing for growth during infancy and becoming less distinct in adulthood.