Economists say competitive markets are efficient because:

a. by producing in the output range where MB > MC, profits are earned and the difference between consumer surplus and producer surplus is maximized.

b. by producing in the output range where MB < MC, profits are reduced and the difference between consumer surplus and producer surplus is maximized.

c. by producing up to the point where MB > MC, profits are earned and the difference between the consumer surplus and producer surplus is maximized.

d. by producing up to the point where MB = MC, profits are maximized and the difference between the consumer surplus and producer surplus is maximized.

Question

04-03-2020
Business

contestada

Economists say competitive markets are efficient because:

a. by producing in the output range where MB > MC, profits are earned and the difference between consumer surplus and producer surplus is maximized.

b. by producing in the output range where MB < MC, profits are reduced and the difference between consumer surplus and producer surplus is maximized.

c. by producing up to the point where MB > MC, profits are earned and the difference between the consumer surplus and producer surplus is maximized.

d. by producing up to the point where MB = MC, profits are maximized and the difference between the consumer surplus and producer surplus is maximized.

Respuesta :

Otras preguntas

Why is communicating clearly between coworkers in the pharmacy so important to ensuring great customer service? Explain....

The term Protestant refers to people who

Which was a problem that the Roman Empire faced after A.D. 200? A. the spread of Christianity B. the strengthening of Egypt C. a changing climate that re

What does it mean to say we have a base ten system? Be specific. Use examples.

8. Is the following statement true or false? Justify your conclusion. If a and b are nonnegative real numbers and a + b =0, then a = 0. Either give a counterexa

Which of these is not considered a digital product? A a heart rate monitor B a bracelet C a sleep tracking app

Two of the Boy Scouts (exercise 19), Tom and Jerry, are weightlifters. They carry 50 lb. per trip. How many trips will each scout have to make?

The triangles shown are similar. What is the value of x? see attatchment 13 12 15 20

500 increased by 30%

Question 27 Elements that are gases, or are brittle solids, and are poor conductors at room temperature are ____. A)metals B)nonmetals C)metalloids D)isotopes

bratislava bratislava · Answer 1 · 2020-03-08T15:01:26+01:00

Answer:

d. by producing up to the point where MB = MC, profits are maximized and the difference between the consumer surplus and producer surplus is maximized

Explanation:

An economist says that the competitive markets are more effective due to the fact that the profits are maximized and this is shown the difference between the consumer surplus and producer surplus. Where the marginal benefit is equal o the marginal costs.