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With Respect to Welfare Economics,why Is the Equilibrium Price of a Product

Question 106

Multiple Choice

With respect to welfare economics,why is the equilibrium price of a product considered to be the best price


A) It maximizes total revenue to firms and total utility to buyers.
B) It maximizes the total welfare of buyers and sellers.
C) It minimizes costs and maximizes profits of sellers.
D) It minimizes the level of welfare payments to those living close to the poverty line.

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