If, in a Competitive Market, Marginal Benefit Is Less Than

question 186

Multiple Choice

If, in a competitive market, marginal benefit is less than marginal cost,

• A)the net benefit to consumers from participating in the market is less than the net benefit to producers.
• B)the government must force producers to raise prices in order to achieve economic efficiency.
• C)the output is greater than the equilibrium quantity.
• D)the output is less than the equilibrium quantity.

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Definitions:

Sacral

Pertaining to the sacrum, the triangular bone at the bottom of the spine between the two hip bones.

Cervical

Relating to the cervix, the narrow passage forming the lower end of the uterus, or the neck region of the spine.

Ischial Tuberosity

The bony protrusion at the lower part of the pelvis upon which a person sits.

Supine Position

A body position where a person lies flat on their back.