When the Efficient Quantity Is Produced

question 116

Multiple Choice

When the efficient quantity is produced

• A)marginal social benefit equals marginal social cost.
• B)the quantity demanded equals the quantity supplied.
• C)resources are used in the activities in which they are most highly valued.
• D)the sum of consumer surplus and producer surplus is maximized.
• E)all of the above.

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Definitions:

Confidential Records

Information or documents that are not to be disclosed to unauthorized individuals due to privacy, legal, or security considerations.

Security

A financial instrument designated as a note, stock, or bond or any other instrument named in the Securities Act of 1933.

Basic Needs

Fundamental requirements necessary for individuals to live a healthy and relatively comfortable life, such as food, water, shelter, and clothing.

Justice

The concept of moral rightness based on ethics, law, fairness, and equity, extending also to the determination of just punishment for wrongdoing.