Which of the following is NOT a condition for maximizing total economic surplus in a particular market?
A)All private costs of production must be included.
B)All social costs of production must be included.
C)All private benefits of consumption must be included.
D)Government regulation of the market is needed.

Question

Quizplus · Accepted Answer

Government regulation of the market is not a condition for maximizing total economic surplus. Rather, including all private costs and benefits as well as all social costs is necessary. In some cases, government regulation may be necessary to ensure that these conditions are met, but it is not a condition in and of itself.

Which of the Following Is NOT a Condition for Maximizing