Which of the Following Is Not True

question 148

Multiple Choice

Which of the following is not true?

• A) In a competitive market, in the long run, price will equal marginal cost.
• B) For resource allocation to be efficient, property rights must be exclusive and nontransferable.
• C) A common property resource is unlikely to be allocated efficiently in the marketplace.
• D) All of the above are true.

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Definitions:

Endorphins

Natural, pain-relieving chemicals produced by the body during stress, exercise, or pain, promoting feelings of well-being and reduce discomfort.

Morphine

A powerful pain-relieving medication derived from opium, used to treat severe pain.

Gate-Control Theory

A theory that suggests pain is not solely a result of physical injury but is also affected by psychological factors; it proposes that pain signals pass through neural "gates" in the spinal cord.

Spinal Cord

A long bundle of neurons that carries messages between the body and the brain and is responsible for very fast, lifesaving reflexes.