If the quantity of housing demanded ________ the quantity of housing supplied,scarce housing resources are allocated efficiently because the marginal cost of the housing ________ the marginal benefit.
A) is more than; equals
B) is less than; equals
C) equals; is more than
D) equals; is less than
E) equals; equals

Question

Quizplus · Accepted Answer

When the quantity of housing demanded equals the quantity of housing supplied, it indicates a market equilibrium where resources are allocated efficiently. At this point, the marginal cost of providing the housing equals the marginal benefit derived from it, ensuring no resources are wasted.

If the Quantity of Housing Demanded ________ the Quantity of Housing