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25) Overproduction of a good means that A) marginal social benefit exceeds marginal social cost. B) marginal social cost exceeds marginal social benefit. C) this is a public good. D) deadweight loss has been eliminated. E) the sum of consumer surplus and producer surplus is greater than the sum for an efficient allocation.

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21 Jun 2018
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Related questions

When marginal benefit exceeds the marginal cost in a market?

A. consumer surplus and producer surplus are not affected compared to when production is such that marginal cost equals marginal benefit.

B. the deadweight loss is negative.

C. only producer surplus is reduced.

D. only consumer surplus is reduced.

E. None of the above answers is correct.

13) When the efficient quantity is produced A) the sum of consumer surplus and producer surplus is maximized. B) the quantity demanded equals the quantity supplied. c) marginal social benefit equals marginal social cost. D) resources are used in the activities in which they are most highly valued. E) all of the above.

24) When the efficient quantity is produced A) the sum of consumer surplus and producer surplus lo maximized. B) the quantity demanded equals the quantity supplied. c) resources are used in the activities in which they are most highly valued. D) marginal social benefit equals marginal social coot. E) all of the above.

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