When the efficient quantity is produced
A)marginal social benefit equals marginal social cost.
B)the quantity demanded equals the quantity supplied.
C)resources are used in the activities in which they are most highly valued.
D)the sum of consumer surplus and producer surplus is maximized.
E)all of the above.
Refer to Figure 5.3.1.The efficient quantity is
Refer to Figure 5.3.1.At the efficient quantity, the price is
A)$20 a unit.
B)$15 a unit.
C)$10 a unit.
D)$5 a unit.
Refer to Figure 5.3.1.If the quantity produced is 200,
A)a deadweight loss exists.
B)the sum of consumer surplus and producer surplus is maximized.
C)production is efficient.
D)the sum of consumer surplus and producer surplus is zero.
E)deadweight loss is minimized.