If, in a Competitive Market, Marginal Benefit Is Less Than

question 413

Multiple Choice

If, in a competitive market, marginal benefit is less than marginal cost,

• A) the net benefit to consumers from participating in the market is less than the net benefit to producers.
• B) the government must force producers to raise prices in order to achieve economic efficiency.
• C) the quantity sold is greater than the equilibrium quantity.
• D) the quantity sold is less than the equilibrium quantity.

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Definitions:

Ecological Footprint

A measure that quantifies the demand placed on Earth's natural resources by individuals or groups, indicating the environmental impact.

Social Problem

An issue that adversely affects a person's state of being in society and requires collective societal effort to solve.

Ecological Footprint

A measure of human demand on Earth's ecosystems, representing the amount of natural capital used by a person or community.

Environmental Justice

A movement aimed at addressing the fair distribution of environmental benefits and burdens across all communities, regardless of race or socio-economic status.