Efficiency occurs in a market when
A) the sum of consumer surplus and producer surplus is maximized.
B) consumer surplus is equal to producer surplus.
C) consumer surplus is less than producer surplus.
D) consumer surplus is greater than producer surplus.
E) total revenue is maximized.
A
Economics
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A) 20 units of labor B) 0 units of labor C) 10 units of labor D) 30 units of labor
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A government debt larger than the economy's GDP ________
A) is an example of debt repudiation B) is a predictor of future large budget deficits C) is a consequence of debt intolerance D) is a possible consequence of tax smoothing
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