Which of the following statements is not true?

When there is an excess demand, the market price goes down by the selfish behavior of market agents.

In a free market, surpluses and shortages are temporary.

The market equilibrium price is equal to the market clearing price.

The paradox of value is about the importance of marginal benefits to determine the price.

Which of the following statements is not true?

"Invisible hand" is a metaphor used by Adam Smith for the role the price in the market.

Total surplus is maximized at the market equilibrium.

When there is an increase in demand and an increase in supply, the sure thing is the market equilibrium quantity increases.

The meaning of "Competitive markets are efficient." is that there is no or smaller deadweight loss, if any.

Which of the following statements is not true?

A higher value of Gini coefficient means a more equal distribution of income.

A Price Floor may improve the fairness, but always damages the efficiency.

Lorenz curve is just a visual expression of income distribution.

Markets don't care about the fairness of income in societies.

Which of the following statements is not true?

In a case of perfect competition market, there is no market failure because the social surplus is maximized.

In monopoly or oligopoly markets, markets fail because there are not many sellers.

Market failure is the inability of some unregulated markets to allocate limited resources efficiently.

In case of externalities, markets fail because the outcome in a market affects some people outside the market.