Category: Surplus

A. are equitable.
B. are efficient
C. maximize consumer surplus
D. are inefficient

A. none of these answers.
B. the minimum amount the seller is willing to accept for a good
C. the seller’s producer surplus
D. the maximum amount the seller is willing to accept for a good
E. the seller’s consumer surplus

A. below the supply curve and above the price
B. below the demand curve and above the supply curve
C. below the demand curve and above the price
D. above the demand curve and below the price
E. above the supply curve and below the price

A. maximize producer surplus
B. are efficient
C. are inefficient
D. are equitable

A. above the supply curve and below the price
B. below the demand curve and above the price
C. below the demand curve and above the supply curve
D. below the supply curve and above the price
E. above the demand curve and below the price

A. below the demand curve and above the price.
B. above the supply curve and below the price.
C. above the demand curve and below the price.
D. below the supply curve and above the price.
E. below the demand curve and above the supply curve

A. everyone has as much as they would like
B. the benefit buyers place on medical care is equal to the cost of producing it
C. buyers receive no benefit from another unit of medical care.
D. we must cut back on the consumption of other goods.

A. efficiency Saleem should receive the glove
B. Efficiency Jamil should receive the glove
C. equity Jamil should receive the glove
D. consumer surplus both should receive a glove

A. the value placed on the last unit of production by buyers exceeds the cost of production
B. the cost of production on the last unit produced exceeds the value placed on it by buyers.
C. consumer surplus is maximized
D. total surplus is maximized
E. producer surplus is maximized

A. minimum amount they are willing to pay for a good
B. producer surplus.
C. consumer surplus
D. maximum amount they are willing to pay for a good
E. none of these answers