If Equilibrium Is Achieved in a Competitive Market

question 2

Multiple Choice

If equilibrium is achieved in a competitive market

• A)there is no deadweight loss.
• B)the deadweight loss will be maximized.
• C)the deadweight loss will equal the sum of consumer surplus and producer surplus.
• D)the deadweight loss will be the same as the opportunity cost of the last unit of output sold.

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Definitions:

Inner Transition Metals

Elements that include the lanthanides and actinides, found in the f-block of the periodic table, known for their complex electron configurations.

Alkaline Earth Metals

Alkaline earth metals are a group of elements in the second column of the periodic table, characterized by their metallic properties and two valence electrons.

Transition Metals

Elements found in the middle of the periodic table that are characterized by their ability to form compounds with variable oxidation states and colored compounds.

Noble Gases

Inert gaseous elements that belong to Group 18 of the periodic table, known for their lack of chemical reactivity.