We Can Say That the Allocation of Resources Is Efficient

question 27

Multiple Choice

We can say that the allocation of resources is efficient if

• A)producer surplus is maximized.
• B)consumer surplus is maximized.
• C)total surplus is maximized.
• D)sellers' costs are minimized.

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Definitions:

Sensory Information

Data received by sensory systems of the body, such as sight, sound, touch, taste, and smell.

Parietal Lobes

Regions of the brain located at the top and back of the head, involved in processing sensory information such as touch, temperature, and pain.

Central Nervous System

The Central Nervous System (CNS) comprises the brain and spinal cord, serving as the primary processing center for nervous system functions.

Spinal Cord

The spinal cord is a long, slender column of nervous tissue that runs through the spine, serving as the primary pathway for transmitting signals between the brain and the rest of the body.