A Competitive Market with No Externalities Is Efficient When It

question 56

Multiple Choice

A competitive market with no externalities is efficient when it is in equilibrium because

• A) total benefit equals total cost.
• B) marginal benefit equals marginal cost.
• C) consumer surplus equals producer surplus.
• D) the sum of consumer surplus plus producer surplus is minimized.
• E) the deadweight gain equals its maximum.

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Job Dissatisfaction

The feeling of unhappiness or discontent with one's job, often due to factors like poor working conditions, unsatisfactory pay, or lack of recognition.

Manifest Needs

Learned or acquired needs that are easily perceived.

High Achievers

Individuals who exhibit a consistent and exceptional level of success in their endeavors, often driven by personal standards of excellence.

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A personal or situational preference for completing tasks or projects independently, without collaboration.