Answered: Efficiency occurs when O producer…

Efficiency occurs when O producer surplus is maximized O total surplus is maximized all resources are being used consumer surplus equals prodcer surplus

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter8: Perfect Competition

Section: Chapter Questions

Problem 6SCQ: A firms marginal cost curve above the average variable cost curve is equal to the films individual...

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Can you explain this? I thought that it would be options C: when all resources are being used.

Efficiency occurs when
O producer surplus is maximized
O total surplus is maximized
all resources are being used
O consumer surplus equals producer surplus

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