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roseox969Lv1
18 Aug 2020
In a competitive market, an efficient allocation of resources is characterized by:
Ā
a. a price greater than the marginal cost of production.
b. the possibility of further mutually beneficial transactions.
c. a value of consumer surplus equal to that of producer surplus.
d. the largest possible sum of consumer and producer surplus.
e. none of the above.
In a competitive market, an efficient allocation of resources is characterized by:
Ā
a. a price greater than the marginal cost of production.
b. the possibility of further mutually beneficial transactions.
b. the possibility of further mutually beneficial transactions.
c. a value of consumer surplus equal to that of producer surplus.
d. the largest possible sum of consumer and producer surplus.
d. the largest possible sum of consumer and producer surplus.
e. none of the above.
Ronaldo MendozaLv10
6 Oct 2020
