Multiple Choice
When market exchange occurs voluntarily in a competitive market,_____
A) consumer choice does not involve any opportunity cost.
B) the sum of consumer surplus and producer surplus is maximized.
C) both consumer surplus and producer surplus are eliminated.
D) buyers benefit at the expense of producers.
E) production does not involve any opportunity cost.
Correct Answer:
Verified
Related Questions
Q159: Suppose a perfectly competitive,increasing-cost industry is in
Q160: If an industry is a constant-cost industry,_
A)the
Q161: Which of the following is true of
