When the Competitive Market Is Using Its Resources Efficiently, the

question 366

Multiple Choice

When the competitive market is using its resources efficiently, the

• A) total amount of consumer surplus is maximized.
• B) total amount of producer surplus is maximized.
• C) sum of the total amount of consumer surplus plus the total amount of producer surplus is maximized.
• D) sum of the total amount of consumer surplus plus the total amount of producer surplus equals zero.

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