If the printed circuit board market is perfectly competitive,
A)too many printed circuit boards will be produced
B)printed circuit boards will be allocated efficiently
C)too few printed circuit boards will be produced
D)economic efficiency will not be achieved
E)printed circuit boards will be evenly distributed among consumers

Question

Quizplus · Accepted Answer

In perfect competition, the market allocates resources efficiently. This means that the quantity produced and sold is at the point where marginal cost equals marginal revenue, which ensures that resources are being allocated in the most efficient way possible. Therefore, printed circuit boards will be allocated efficiently in a competitive market.

If the Printed Circuit Board Market Is Perfectly Competitive