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Which of the following statements is true of competitive market equilibrium?

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Which of the following statements is true of competitive market equilibrium?

Which of the following statements is true of competitive market equilibrium?
A) The determination of equilibrium price and quantity is independent of the demand for goods.
B) Social surplus is minimized at the competitive equilibrium.
C) At the competitive equilibrium, there are no unexploited gains from trade.
D) A competitive equilibrium is determined only by a few large sellers in the market.

Textbook

Microeconomics

Microeconomics

Edition: 1^st

Authors: Acemoglu, Laibson, List

Read 61 times

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