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- Subject
- Marketeconomics-mcqs › market
- Published
- 31 May 2019
- Last updated
- 28 May 2026
Explanation
A competitive equilibrium is Pareto efficient because producers are price takers, consumers and producers face the same prices, marginal costs equal marginal benefits, and prices reflect these marginal values. Therefore, all the given statements collectively explain the Pareto efficiency of competitive equilibrium.
More Market MCQs
Practice related questions from the same subject.
- 1.Broadcasting firms use satellite TV subscriptions and signal detection tools primarily to combat which issue?
- 2.Which of the following is a classic example of a public good?
- 3.Which of the following factors can lead to market failure?
- 4.When a neighbor burns yard debris and smoke enters your home, what type of externality does this represent?
- 5.Within the insurance sector, individuals who pose a greater risk tend to purchase insurance more frequently. What concept does this illustrate?
- 6.In a Nash equilibrium, how does each player select their strategy?
- 7.In a contestable market, how must existing companies act to prevent new competitors from entering?
- 8.Which of the following is NOT classified as a form of imperfect competition?
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