At a competitive equilibrium with no externalities,taxes,subsidies,public goods,common resources,or high transactions costs,which of the following occurs?
i.an efficient outcome
ii.definitely a fair outcome when judged by the fair-results approach
iii.marginal cost equals marginal benefit
iv.producer surplus equals consumer surplus
A) i and iii
B) i, ii and iii
C) ii and iii
D) i, ii, iii and iv
E) only i

Question

Quizplus · Accepted Answer

At a competitive equilibrium with no externalities,taxes,subsidies,public goods,common resources,or high transactions costs,which of the following occurs?
i.an efficient outcome
ii.definitely a fair outcome when judged by the fair-results approach
iii.marginal cost equals marginal benefit
iv.producer surplus equals consumer surplus

At a Competitive Equilibrium with No Externalities,taxes,subsidies,public Goods,common Resources,or High