When a Market Is Efficient,the

question 98

Multiple Choice

When a market is efficient,the

• A) sum of consumer surplus and producer surplus is maximized.
• B) deadweight gain is maximized.
• C) quantity produced is maximized.
• D) marginal benefit of the last unit produced exceeds the marginal cost by as much as possible.
• E) total benefit equals the total cost.

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Definitions:

Mesopotamia

An ancient region located in the eastern Mediterranean, broadly between the Tigris and Euphrates rivers, known as the cradle of civilization.

India

A country in South Asia, the seventh-largest by land area, and the second-most populous country globally, known for its diverse culture and history.

Roots

The part of a plant that grows downward into the soil, anchoring the plant and absorbing water and nutrients.

Morphemes

The smallest linguistic units in a language that carry meaning; can be a word or a part of a word, such as a prefix or suffix.