If the social cost of producing a good or service exceeds the private cost

A. A negative externality exists.

B. The market achiever's economic efficiency.

C. The sum of consumer surplus and producer surplus is maximized.

D. A positive externality exists.

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MSC- 14) If resources are allocated efficiently, A) consumer surplus exceeds producer surplus. B) marginal social cost is minimized. C) producer surplus exceeds consumer surplus. P) the sum of consumer surplus and producer surplus is maximized, E) marginal social benefit is maximized.

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A. Consumer surplus is maximized.

B. Producer surplus is maximized.

C. The sum of consumer surplus and producer surplus is maximized.

D. Price is as low as possible.

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If the social cost of producing a good or service exceeds the private cost

A. A negative externality exists.

B. The market achiever's economic efficiency.

C. The sum of consumer surplus and producer surplus is maximized.

D. A positive externality exists.

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If the social cost of producing a good or service exceeds the private cost A. A negative externality exists. B. The market achiever's economic efficiency. C. The sum of consumer surplus and producer surplus is maximized. D. A positive externality exists.

Unlock all answers

Related textbook solutions

Principles of Economics

Principles of Macroeconomics

Principles of Microeconomics

Related questions

Weekly leaderboard

If the social cost of producing a good or service exceeds the private cost

A. A negative externality exists.

B. The market achiever's economic efficiency.

C. The sum of consumer surplus and producer surplus is maximized.

D. A positive externality exists.