The Figure Given Below Represents an Imperfectly Competitive Resource Market

question 43

Multiple Choice

The figure given below represents an imperfectly competitive resource market. Here common land (and not land used for specific purpose) is under consideration.Figure 18.1

-Which of the following results from the market system of resource allocation?

• A)Equitable distribution of resources
• B)High opportunity cost of production
• C)Excess supply of goods and services resulting in decreased profits
• D)Unequal distribution of income and wealth
• E)Allocation of the goods and services to those who need them the most

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