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AP® Macroeconomics

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Moderate

Market Equilibrium: Evaluate the Statements

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Which of these statements is true about a perfectly competitive market that is in equilibrium?

I. Everyone who wants to purchase the good at the market price can find one.
II. Everyone who wants to sell the good at the market price can find a buyer.
III. Deadweight loss exists in the market​.
IV. The market is allocatively efficient.

A

I and II only

B

III and IV only

C

I, II, and IV only

D

II, III and IV only

E

I, II, III and IV