Multiple Choice
-The figure above shows the market for pants.If the efficient quantity is produced,
A) there will be no consumer surplus.
B) the sum of consumer and producer surplus will be maximized.
C) a small deadweight loss will result.
D) the sum of consumer and producer surplus will be minimized.
E) the consumer surplus on all the pants must equal the producer surplus on all the pants.
Correct Answer:

Verified
Correct Answer:
Verified
Q86: When allocative efficiency occurs,<br>A) an economy produces
Q88: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1458/.jpg" alt=" -The diagram above
Q89: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1458/.jpg" alt=" -The figure above
Q90: Deadweight loss and market failure are created
Q92: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1458/.jpg" alt=" -The figure above
Q93: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1458/.jpg" alt=" -The figure above
Q94: The Ironman Hawaii randomly draws a few
Q95: When underproduction occurs,<br>A) producers gain more surplus
Q96: Allocative efficiency is achieved when the marginal
Q265: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The figure shows