If the market for bicycles is efficient, then

A) no more bicycles can be produced.
B) marginal benefit exceeds marginal cost.
C) consumer surplus must be greater than producer surplus.
D) it is not possible to produce more bicycles without sacrificing another, more highly valued good.
E) consumer surplus must equal producer surplus.

D

Economics

You might also like to view...

A direct restriction on the quantity of an import is called a tariff.

a. true b. false

Economics

The concept of ________ explains how trade between two countries can make each better off

A) absolute advantage B) autarky C) trade barriers D) comparative advantage

Economics