If there are no external costs or benefits, no price or quantity regulations, no taxes or subsidies, and the good is not a public good or a common resource, then efficiency is
A) achieved when a monopoly produces the good.
B) achieved when the amount of output exceeds the amount produced in a competitive market.
C) achieved when the good is produced in a competitive market.
D) unrelated to the amount produced in a competitive market.
Correct Answer:
Verified
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A)
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