Multiple Choice
Which one of the following need not be satisfied to achieve allocative efficiency?
A) Marginal social cost equals marginal social benefit.
B) The sum of consumer surplus and producer surplus is maximized.
C) Price equals marginal social benefit.
D) Price equals marginal social cost.
E) Only high-quality goods are produced.
Correct Answer:

Verified
Correct Answer:
Verified
Q16: Use the table below to answer the
Q17: Use the figure below to answer the
Q18: Use the information below to answer the
Q19: In a perfectly competitive market,which of the
Q20: Use the table below to answer the
Q22: Use the figure below to answer the
Q23: Use the figure below to answer the
Q24: Use the table below to answer the
Q25: In a perfectly competitive market,the market demand
Q26: Perfect competition occurs in a market where