Economics · Market Structure
Which of the following does not hold at the equilibrium price and quantity in a perfectly competitive market?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1All competitive equilibria are Pareto optimal.
- 2Minimum willingness to pay equals minimum acceptable price.✓
- 3Marginal benefit equals marginal cost.
- 4Total surplus is maximized.
Correct answer
Minimum willingness to pay equals minimum acceptable price.
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