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:

Transgender Sex Workers

Individuals who engage in sex work and whose gender identity differs from the sex they were assigned at birth.

Heterosexual Men

Men who are romantically and sexually attracted to women.

Defense of Marriage Act

A now-defunct U.S. federal law enacted in 1996 that defined marriage as the union between one man and one woman for federal and inter-state recognition purposes, before being ruled unconstitutional.

Gay Marriage

The legally or socially recognized marriage between two individuals of the same sex.