Which of the Following Is True in a Competitive Market

question 1

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.

---

Definitions:

Behavioral Consistency

Denotes the degree to which individuals' actions and reactions are predictable over time based on their established traits or patterns.

Emotional Intelligence

The ability to understand, use, and manage one's own emotions in positive ways to relieve stress, communicate effectively, empathize with others, overcome challenges, and defuse conflict.

Manage Emotion

The process of recognizing, understanding, and effectively controlling one's own emotions and those of others, to facilitate positive interactions and achieve goals.

Recognize Emotion

The ability to identify and understand the emotions of oneself and others.