At a competitive market equilibrium, if there are no taxes, subsidies, price regulations, quantity regulations, or externalities, i. consumer surplus is minimized.
Ii. marginal cost equals marginal benefit.
Iii. resources are efficiently used.
Iv. producer surplus is minimized.
A) ii and iii
B) i and ii
C) i and iv
D) i, ii, iii, and iv
E) ii only
Correct Answer:
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A) external costs.
B) external benefits.
C)
