Tackle the Test: Multiple-Choice Questions

  1. Question

    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
    At market equilibrium in a competitive market, which of the following is necessarily true?
  2. 513

    Question

    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
    Which of the following is true regarding equity and efficiency in competitive markets?
  3. Question

    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
    An excise tax imposed on sellers in a market will result in which of the following?
  4. Question

    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
    An excise tax will be paid mainly by producers when
  5. Question

    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
    When a competitive market is in equilibrium, total surplus can be increased by