The efficient quantity of a good
A)is achieved whenever the marginal cost of producing the last unit exceeds its value to some consumer
B)is achieved whenever the value of the last unit to some consumer exceeds the minimum price its producer would be willing to accept for it
C)will not be produced unless a side payment is made
D)is the quantity at which the market supply and demand curves intersect
E)is usually a fair quantity

Question

Quizplus · Accepted Answer

The efficient quantity of a good is where the market supply and demand curves intersect, indicating that the quantity supplied equals the quantity demanded, maximizing total surplus.

The Efficient Quantity of a Good