Figure 10-2

-Refer to Figure 10-2.If this market is currently producing at Q₄,how could total economic well-being be increased
A)if output decreased to zero
B)if output decreased to Q₂
C)if output stayed at Q₄
D)if output increased

Question

Figure 10-2
 
-Refer to Figure 10-2.If this market is currently producing at Q₄,how could total economic well-being be increased
A)if output decreased to zero 
B)if output decreased to Q₂ 
C)if output stayed at Q₄ 
D)if output increased

Quizplus · Accepted Answer

Decreasing output to Q₂ would likely align production with the optimal level where marginal cost equals marginal benefit, thus maximizing total economic well-being.

Figure 10-2 -Refer to Figure 10-2.If This Market Is Currently Producing at Is