Which of the Following Occurs When a Market Is Efficient

question 41

Multiple Choice

Which of the following occurs when a market is efficient?

• A) Producers earn the highest income possible.
• B) Production costs equal total benefit.
• C) Consumer surplus equals producer surplus.
• D) Scarce resources are used to produce the goods and services that people value most highly.
• E) Every consumer has all of the good or service he or she wants.

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Definitions:

Expedited Credit

A banking service that provides faster funds availability to the depositor.

Substitute Check

A digital reproduction of an original check that has the same legal standing for purposes of clearing.

Consumer

Someone who buys or leases real estate, goods, or services for personal, family, or household purposes.