Economics · Market Efficiency

The economic claim that the market mechanism leads to efficient resource allocation is fundamentally based on the existence of which condition?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Exclusion
2Competitive factor and product markets✓
3Inclusion
4Monopoly

Correct answer

Competitive factor and product markets

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The economic claim that the market mechanism leads to efficient resource allocation is fundamentally based on the existence of which condition?

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The economic claim that the market mechanism leads to efficient resource allocation is fundamentally based on the existence of which condition?

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