Total Economic Surplus Is Greatest When

question 56

Multiple Choice

Total economic surplus is greatest when:

• A)price controls keep prices low enough that most consumers can purchase the item.
• B)consumer surplus and producer surplus are equal.
• C)consumer surplus exceeds producer surplus.
• D)the market is in equilibrium.

---

Definitions:

Academic Advisor

A staff member at an educational institution who helps students plan their academic careers by offering advice on courses, programs, and other educational matters.

Government Legislation

Laws or statutes that have been passed and enacted by a governmental body such as a parliament or congress.

Student Loan Availability

The extent to which students can access financial loans to support their education, often provided by the government or private organizations.

Debt Forgiveness

A situation in which a lender decides to cancel all or part of a borrower's outstanding debt, freeing them from their obligation to repay.