If the Equilibrium Quantity of a Good Is Also the Socially

question 166

Multiple Choice

If the equilibrium quantity of a good is also the socially optimal quantity, then:

• A)total economic surplus has been maximized.
• B)the marginal benefit to consumers of another unit of the good is zero.
• C)the marginal cost to producers of another unit of the good is zero.
• D)it's possible to make at least one person better off without hurting anyone else.

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Definitions:

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