When Markets Are Efficient

question 330

Multiple Choice

When markets are efficient

• A) the sum of consumer and producer surplus is minimized.
• B) the sum of consumer and producer surplus is maximized.
• C) consumer surplus is maximized, but producer surplus is minimized.
• D) consumer surplus is minimized, but producer surplus is maximized.

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Definitions:

Inhaled Poisons

Toxic substances that enter the body through the respiratory system leading to potential harm or discomfort.

Tinnitus

An abnormal ringing in the ear.

Angina

A condition marked by severe pain in the chest, often also spreading to the shoulders, arms, and neck, caused by inadequate blood supply to the heart.

Contusions

A type of bruise resulting from blunt force trauma that damages blood vessels under the skin without breaking the skin.