Which of the Following Is True in a Competitive Market

question 80

Multiple Choice

Which of the following is true in a competitive market equilibrium?

• A)total consumer surplus equals total producer surplus.
• B)marginal benefit and marginal cost are maximised.
• C)consumers and producers benefit equally.
• D)the marginal benefit equals the marginal cost of the last unit sold.

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Definitions:

Heterosexism

The belief in the natural superiority of heterosexuality as a way of life and therefore its logical right to dominance. Comprised of a system of ideas and institutionalized beliefs, it leads to the oppression of any non-heterosexual form of behaviour, identity, relationship, or community.

Same-sex Marriage

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

Gender-neutral

Pertains to language or practices that avoid distinguishing roles or attributes according to people's sex or gender, promoting equality.

Ethnocentrism

Refers to a tendency to regard one’s own culture and group as the standard, and thus superior, whereas all other groups are seen as inferior.