Which of the following statements is false?
A)If marginal cost exceeds marginal benefit, too much is being produced.
B)Taking money from the rich and giving it to the poor does not improve efficiency.
C)Three conditions must be met to achieve efficiency.
D)If all consumers experience the same marginal benefit, equity has resulted.
E)To achieve efficiency, a producer whose marginal cost is lower than his or her competitors should produce more than his or her competitors.

Question

Quizplus · Accepted Answer

If all consumers experience the same marginal benefit, it does not necessarily mean that equity has resulted. Equity refers to fairness in the distribution of goods or resources, not the level of benefit received by consumers.

Which of the Following Statements Is False