The first priority of national defense spending is the defense of economic interests abroad

The figure above shows the market for coffee. If the efficient quantity of coffee is produced, the consumer surplus is

A) $10 million. B) $20 million. C) $60 million. D) zero.

Which of the following statements is false?

A) Asymmetric information can exist both before and after a transaction. B) Moral hazard occurs when one party to a transaction changes his or her behavior in a way that is hidden from and costly to the other party. C) Adverse selection has the potential to eliminate some markets. D) none of the above