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:

Impossibility

A situation or condition in which something cannot be done or achieved, often due to external factors.

Carrier

An individual or organization in the business of transporting goods or people.

Shipment

The act of transporting goods from one location to another, typically involving a transfer of possession from the seller to a carrier.

Tracking Information

Involves the details provided by shipping or courier services about the status and progress of a shipment's journey from origin to destination.