Each of the Following Factors Might Interfere with the Efficiency

question 20

Multiple Choice

Each of the following factors might interfere with the efficiency of perfect competition except:

• A)increasing returns to scale.
• B)imperfect price information.
• C)externalities.
• D)diminishing returns to scale.

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Definitions:

Middle Class

A social class that falls between the working class and the upper class, often defined by moderate income levels, education, and professional occupations.

Perpendicular Style

A phase of Gothic architecture prevalent in England during the late medieval period, noted for its emphasis on vertical lines and detailed decorations.

England

A country that is part of the United Kingdom, known for its rich history, cultural heritage, and as the birthplace of the English language.

Spain

A country in southwestern Europe known for its rich history, cultural diversity, and significant contributions to art, literature, and global exploration.