If Equilibrium Is Achieved in a Competitive Market, Then

question 124

Multiple Choice

If equilibrium is achieved in a competitive market, then

• A)there is no deadweight loss.
• B)the deadweight loss will be maximized.
• C)the deadweight loss will equal the sum of consumer surplus and producer surplus.
• D)the deadweight loss will be the same as the opportunity cost of the last unit of output sold.

Learn about the protections against scientific fraud, including replication and careful documentation.

Recognize the impact of ethical research practices on participants' safety and psychological welfare.

Understand the critique of animal research from animal rights groups and the ethical justification for such research.

Define the concept of plagiarism and differentiate between its various types.

---

Definitions:

Commercial Facilities

Premises or buildings used for commercial activities, such as retail stores, offices, or warehouses.

Private Nuisance

The use of property in such a way that it foreseeably interferes with a neighbour’s enjoyment of her property

Land Titles Office

A government office that registers legal documents relating to the ownership and boundaries of property, ensuring legal ownership.

Fee Simple

A type of freehold ownership where the owner has the most extensive property rights allowed by law.