Figure 7-24 -Refer to Figure 7-24.The Equilibrium Allocation of Resources Is

question 85

Multiple Choice

Figure 7-24
-Refer to Figure 7-24.The equilibrium allocation of resources is

• A)efficient because total surplus is maximized at the equilibrium.
• B)efficient because consumer surplus is maximized at the equilibrium.
• C)inefficient because consumer surplus is larger than producer surplus at the equilibrium.
• D)inefficient because producer surplus is not maximized.

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Definitions:

Cell Wall

A rigid layer that lies outside the cell membrane of plants, fungi, and bacteria, providing structural support and protection.

Human Genome Project

an international scientific research project with the goal of determining the sequence of nucleotide base pairs that make up human DNA, and of identifying and mapping all of the genes of the human genome.

Repeated Sequences

DNA segments that are present multiple times within a genome, including both tandem repeats and interspersed repeats.

Nucleotides

Organic molecules that serve as the monomers, or subunits, of nucleic acids like DNA and RNA, consisting of a nitrogenous base, a sugar, and one or more phosphate groups.