If resources are used efficiently, then ________
A) marginal social cost is minimized
B) consumer surplus plus producer surplus is maximized
C) consumer surplus equals producer surplus
D) producer surplus is maximized
B
Economics
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The largest budgetary expense for the federal government in 2011 was
a. interest on the national debt. b. health. c. highways. d. income security.
Economics
Demand is elastic along the upper half of a linear demand curve, which means that a decrease in price will increase the quantity sold by a larger percentage amount.
Answer the following statement true (T) or false (F)
Economics