A. free market solutions are efficient
B. free market solutions maximize total surplus
C. all of these answers
D. free market solutions are equitable E. free market solutions are efficient and free market solutions maximize total surplus
A. none of these answers. B. the minimum amount the seller is willing to accept for a good
C. the seller’s producer surplus
D. the maximum amount the seller is willing to accept for a good
E. the seller’s consumer surplus
A. total surplus is maximized B. the value placed on the last unit production by buyers exceeds the cost of production.
C. producer surplus is maximized
D. the cost of production on the last unit produced exceeds the value placed on it by buyers.
E. consumer surplus is maximized
A. below the supply curve and above the price
B. below the demand curve and above the supply curve
C. below the demand curve and above the price D. above the demand curve and below the price
E. above the supply curve and below the price