If Resources Are Allocated Efficiently

question 50

Multiple Choice

If resources are allocated efficiently,

• A)consumer surplus exceeds producer surplus.
• B)producer surplus exceeds consumer surplus.
• C)the sum of consumer surplus and producer surplus is maximized.
• D)marginal social benefit is maximized.
• E)marginal social cost is minimized.

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Definitions:

Waste And Consumption

The processes involved in the use of resources and the production of waste as a byproduct.

Environmental Sociologists

Researchers who study the interactions between societies and their natural environments, including the social factors that contribute to environmental problems.

Global Warming

Gradual increase in the earth’s temperature, driven recently by an increase in greenhouse gases and other human activity.

Air Pollution

The presence of harmful substances in the atmosphere, often resulting from human activities, that can cause health and environmental problems.