When Markets Are Efficient

question 330

Multiple Choice

When markets are efficient

• A) the sum of consumer and producer surplus is minimized.
• B) the sum of consumer and producer surplus is maximized.
• C) consumer surplus is maximized, but producer surplus is minimized.
• D) consumer surplus is minimized, but producer surplus is maximized.

---

Definitions:

Ketogenesis

A metabolic process where the liver produces ketone bodies from fatty acids, which serve as an alternative energy source when glucose is low.

Acetyl CoA

A molecule involved in many biochemical reactions, serving as a key intermediary in the synthesis and oxidation of fatty acids and in the Krebs cycle for energy production.

Electron Transport

A series of chemical reactions during which electrons are transferred through a chain of protein complexes in the mitochondria, generating ATP, the cell's energy currency.

Transamination

A biochemical process that transfers an amino group from an amino acid to a keto acid, altering amino acid structure.