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12 Jan 2019
When economists talk about the "efficiency" of a market outcome they are referring to a situation where
A) the ability for firms to enter or leave a market.
B) both consumer surplus and producer surplus are as they could both possibly be.
C) marginal costs are decreasing.
D) the sum of consumer and producer surplus is as large as it could possibly be.
When economists talk about the "efficiency" of a market outcome they are referring to a situation where
A) the ability for firms to enter or leave a market.
B) both consumer surplus and producer surplus are as they could both possibly be.
C) marginal costs are decreasing.
D) the sum of consumer and producer surplus is as large as it could possibly be.
2 Jun 2021