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:

Personality Trait

A stable characteristic that describes a long-term pattern in an individual's thoughts, feelings, and behaviors.

Typological Approach

A method of studying personality that focuses on the classification of individuals into distinct types based on shared traits or characteristics.

Trait Approach

A perspective in psychology that focuses on the identification and measurement of specific characteristics that vary between individuals.

Empirical Support

Evidence-based confirmation or backing that comes from observation, experimentation, or direct experience rather than from theory or belief.