Which of the following is NOT required for the market equilibrium to be efficient?
A) Consumers and producers must be well informed.
B) The market must be perfectly competitive.
C) The equilibrium price must be considered fair and just.
D) The supply curve must include all the costs of production.
E) The demand curve must include all the benefits of consumption.

Question

Quizplus · Accepted Answer

The concept of fairness or justice is not necessary for market efficiency, only that supply and demand are in balance and that all parties have access to the same information.

Which of the Following Is NOT Required for the Market