In a Competitive Market,an Efficient Allocation of Resources Is Characterized

question 11

Multiple Choice

In a competitive market,an efficient allocation of resources is characterized by

• A)a price greater than the marginal cost of production.
• B)the possibility of further mutually beneficial transactions.
• C)the largest possible sum of consumer and producer surplus.
• D)a value of consumer surplus equal to that of producer surplus.

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Definitions:

Tongue

A muscular organ in the mouth, vital for taste, swallowing, and speech.

Trochlear Nerves

The fourth cranial nerves, primarily responsible for eye movement, specifically controlling the superior oblique muscle.

Trigeminal Nerves

Cranial nerves responsible for sensory information in the face and motor functions such as biting and chewing.

Abducens Nerves

Cranial nerves responsible for controlling the movement of a muscle that abducts the eye.