If Resources Are Misallocated in a Perfectly Competitive Market, Then

question 130

Multiple Choice

If resources are misallocated in a perfectly competitive market, then, in the long run, profit opportunities will:

• A)bring about a more efficient allocation of resources.
• B)bring about a less efficient allocation of resources.
• C)not bring about a reallocation of resources unless there is government regulation.
• D)not bring about a reallocation of resources unless firms are subsidized.

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Definitions:

Recognition

The action or process of acknowledging or honoring someone's status, achievements, rights, or existence, often as a form of validation or respect.

Recall

The cognitive process of retrieving information or memories from one’s past, unaided by explicit cues.

Metamemory

An individual's awareness and understanding of their own memory capabilities and strategies.

Memorization

The process of committing something to memory through repetition.