All points off of the contract curve are ____________

Refer to Figure 4-7. The figure above represents the market for iced tea. Assume that this is a competitive market. If the price of iced tea is $1

A) not enough consumers want to buy iced tea. B) the quantity supplied is economically efficient but the quantity demanded is economically inefficient. C) economic surplus is maximized. D) the quantity supplied is less than the economically efficient quantity.

Philosopher John Rawls's argument in favor of income equality presumes that with no prior knowledge of where a person would fit into an income distribution, the person's fear of ending up in poverty overshadows his or her joy of ending up rich

Indicate whether the statement is true or false