We can say that the allocation of resources is efficient if
A)producer surplus is maximized.
B)consumer surplus is maximized.
C)total surplus is maximized.
D)sellers' costs are minimized.

Question

Quizplus · Accepted Answer

Efficiency in resource allocation is achieved when the total surplus, which is the sum of consumer surplus and producer surplus, is maximized. This indicates that resources are being used in the most valuable way, satisfying both consumers and producers to the greatest extent possible.

We Can Say That the Allocation of Resources Is Efficient