Which Statement Is True When a Competitive Equilibrium Is Achieved

question 144

Multiple Choice

Which statement is true when a competitive equilibrium is achieved in a market?

• A)All individuals are better off than they would be if a price ceiling or price floor was imposed by government.
• B)The total net benefit to society is maximised.
• C)The total benefits to consumers are equal to the total benefits to producers.
• D)Economic surplus equals the deadweight loss.

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Definitions:

Pseudostratified

Describes epithelial tissue that appears to be layered but all cells actually reach the basal surface, giving a deceptive appearance of stratification.

Transitional

Referring to a phase or state that is changing or evolving from one form or condition to another, often used in contexts such as transitional economies or transitional epithelium.

Stratified

Describes a structure that is arranged in layers or levels, often used when talking about certain types of epithelial cells.

Gap Junctions

Channels that allow for direct communication between the cytoplasm of adjacent cells, facilitating the transfer of ions and small molecules.