Economic efficiency is a market outcome in which the marginal benefit to consumers is equal to the marginal cost of production and the sum of consumer surplus and producer surplus is maximized
Indicate whether the statement is true or false
TRUE
Economics
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The figure above shows the situation facing Smart Digit, Inc, a firm in monopolistic competition that produces calculators. The firm's economic profit in the long run is
A) zero. B) $600. C) $900. D) $2,400.
Economics
A demand schedule’s position is determined partly by the supply of a good.
Answer the following statement true (T) or false (F)
Economics