The answer & explanation for this question is given in the attachment below.
Answer: Determining that the study has a maximization of benefits and a minimization of risks.
Explanation: The beneficence principle is an ethical principle that a care giver's actions should be of good reasoning. This principle is used to make sure that those who care of human subjects, are treated by doing what they truly believe is best for the patient.
Pure competition or perfect competition is where all firms have full knowledge of what is going on in the market, where there is free flow of information between not only the producers, but also with the consumers.
As such, all firms have no dominant share of market power since each individual firm is able to produce the good of the same quality and quantity (factors of production are fluid, and no costs in transportation in this theory). And at the same time, consumers have full knowledge of the quality of good they are getting and hence no firm will be able to exploit the misinformation of a good for its own profits.
This builds up to the point of a perfectly elastic demand curve, where consumers know what amount and at which price point do they value the product at. And knowing for the fact that small individual firms in a purely competitive firm have no say over prices, they become the price takers for this kind of market. Thus where MB=MC, the equilibrium point is reached and it is also at the socially optimal level since all consumers have full knowledge of the pros and cons of consuming a product (hence no externalities).
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Answer: D.) equilibrium price
Explanation:
The Supply curve shows the different combinations of prices and quantities of goods that Suppliers are willing to offer while the Demand curve shows the combination of goods and the prices the consumers can buy at.
When these two curves intersect as is the case in the graph, they give an equilibrium price which is the price that suppliers are willing to sell their goods at and consumers are willing to buy t.
