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:

Terminate

To terminate means to bring something to an end or to conclude.

Advance Career

Actions or steps taken to progress professionally in one's job or occupation, aiming for higher positions, increased responsibility, or specialized knowledge.

Employed

Employed refers to an individual who works part-time or full-time under a contract of employment, whether oral or written, express or implied, and has recognized rights and duties.

Networking

Making contacts with relatives, friends, and acquaintances who may have information about how to find a job in your field.