If an Allocation of Resources Is Efficient, Then

question 174

Multiple Choice

If an allocation of resources is efficient, then

• A)consumer surplus is maximized.
• B)producer surplus is maximized.
• C)all potential gains from trade among buyers are sellers are being realized.
• D)the allocation achieves equality as well.

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Definitions:

Qualitative

Pertaining to or concerning the quality of something rather than its quantity, often used in research to describe non-numerical data.

Quantitative

Refers to research methodologies that involve the collection and analysis of numerical data, used to identify patterns, relationships, or to test hypotheses.

Quantitative

Concerned with, evaluating, or determined by the amount of something rather than its quality.

Qualitative

Pertaining to research methods focused on collecting and analyzing non-numerical data (e.g., text, video) to understand concepts, thoughts, or experiences.