Marginal Cost Pricing in Competitive Markets Results in All but Which

question 126

Multiple Choice

Marginal cost pricing in competitive markets results in all but which one of the following?

• A)An efficient mix of goods and services being produced.
• B)Output being produced where price equals the opportunity cost of the last unit being produced.
• C)The information necessary for consumers to make rational choices between alternative goods and services.
• D)Maximization of consumer utility.

---

Definitions:

Overloading

A situation where an individual or system is given more work or information than can be handled comfortably or efficiently.

Skill Set

A collection of skills and abilities that an individual possesses, which can be applied in various jobs, tasks, or projects.

Realistic Goals

Objectives set that are achievable and based on practical considerations of actual conditions.

Responsibility

The obligation to carry out assigned tasks, make decisions, and bear the consequences of actions.