All of the following statements are true except
A) consumers allocate their budgets to get the most value possible.
B) we derive a consumer's demand curve by finding how the best budget allocation changes as the price of a good changes.
C) firms get the most value out of their resources at every point along a consumer's demand curve.
D) a competitive equilibrium achieves an efficient outcome.
E) when firms in perfect competition are away from the long-run equilibrium,the market is still efficient.
Correct Answer:
Verified
Q96: If firms exit an market,the
A)market supply curve
Q97: Use the figure below to answer the
Q98: Use the figure below to answer the
Q99: Use the table below to answer the
Q100: If firms in a perfectly competitive market
Q102: Technological change
A)brings only temporary gains to producers.
B)brings
Q103: A decrease in demand brings all of
Q104: Which one of the following need not
Q105: In a perfectly competitive market,each firm maximizes
Q106: In a competitive market,the market demand curve
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents