Social Welfare (I

question 146

Multiple Choice

Social welfare (i.e. ,the sum of producer and consumer surplus) is maximized when

• A) the government taxes most goods and services.
• B) very few consumers and producers exist within a market.
• C) the market reaches its equilibrium price and quantity.
• D) supply and demand are perfectly inelastic.
• E) the government imposes price controls.

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