The Most Socially Efficient Market Structure in the Long Run

question 33

Multiple Choice

The most socially efficient market structure in the long run is:

• A)perfect competition.
• B)monopolistic competition.
• C)oligopoly.
• D)monopoly.
• E)monopsony.

---

Definitions:

Social Phenomenon

An observable event or process that occurs in society, often studied in the context of sociology and social psychology.

Socialization

The process by which individuals learn and internalize the values, beliefs, and norms of their culture and society to function as its members.

Elderly

Refers to individuals in an older age group, often considered to be those aged 65 and above, who may experience unique social, health, and economic challenges.

Old Old

A term used in gerontology to refer to individuals typically aged 85 years and older, highlighting a demographic group that may have distinct health and social care needs.