Economics · Microeconomics

Which of the following does NOT hold true at the equilibrium price and quantity in a perfectly competitive market?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1The competitive equilibrium is 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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Which of the following does NOT hold true at the equilibrium price and quantity in a perfectly competitive market?

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Which of the following does NOT hold true at the equilibrium price and quantity in a perfectly competitive market?

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