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Which of the following is true of equilibrium in a purely (or perfectly) competitive market for good X? A

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Which of the following is true of equilibrium in a purely (or perfectly) competitive market for good X?

A. A shortage of good X exists.

B. The quantity demanded equals the quantity supplied of good X.

C. A surplus of good X exists.

D. The government regulates the quantity of good X produced at the market price.

E. Dead-weight loss exists.