If the equilibrium quantity of a good is also the socially optimal quantity, then:Multiple Choicethe marginal benefit to consumers of another unit of the good is zero.the marginal cost to producers of another unit of the good is zero.total economic surplus has been maximized.it's possible to make at least one person better off without hurting anyone else.

Equilibrium occurs when demand and supply forces are equal. Equilibrium leads to efficient outcomes…

If the equilibrium quantity of a good is also the socially optimal quantity, then: Multiple Choice O the marginal benefit to consumers of another unit of the good is zero. O the marginal cost to producers of another unit of the good is zero. total economic surplus has been maximized.

If the equilibrium quantity of a good is also the socially optimal quantity, then: Multiple Choice O the marginal benefit to consumers of another unit of the good is zero. O the marginal cost to producers of another unit of the good is zero. total economic surplus has been maximized.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If the equilibrium quantity of a good is also the socially optimal quantity, then:
Multiple Choice
the marginal benefit to consumers of another unit of the good is zero.
the marginal cost to producers of another unit of the good is zero.
total economic surplus has been maximized.
it's possible to make at least one person better off without hurting anyone else.

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