Use the Following to Answer Question(s): Markets and Efficiency

question 102

Multiple Choice

Use the following to answer question(s) : Markets and Efficiency

-(Exhibit: Markets and Efficiency) Referring to Panel (a) :

• A) at the equilibrium price of $0.80, marginal benefit exceeds marginal cost.
• B) net benefit is minimized at the price of $0.80.
• C) the equilibrium quantity, determined by demand and supply, is efficient.
• D) total cost and total benefit are maximized.

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