If resources are used efficiently, then ________

A) marginal social cost is minimized
B) consumer surplus plus producer surplus is maximized
C) consumer surplus equals producer surplus
D) producer surplus is maximized


B

Economics

You might also like to view...

Following their profit maximizing motivation, firms will differentiate their products in a way that maximizes welfare

Indicate whether the statement is true or false

Economics

Inclusive union strategy involves

A. increasing the demand for the final product, thereby increasing the demand for labor. B. restricting the supply of union labor. C. setting job standards and entry qualifications for members. D. organizing all workers in a particular craft or industry and bargaining for a wage.

Economics

Fiscal policy involves

A. changing the money supply to change aggregate demand. B. printing money, borrowing, or taxing to cover government spending. C. changing government spending or taxes to increase aggregate demand. D. state and local authorities, not the federal government.

Economics

Given the graph, the quantity that would be associated with the price of $1 in a demand table would be:

A. 6. B. 5. C. 4. D. 3.

Economics