Proponents of free markets argue that if all markets were perfectly competitive and if the government allowed prices to be determined by demand and supply, then for all products in the economy,
Proponents of free markets argue that if all markets were perfectly competitive and if the government allowed prices to be determined by demand and supply, then for all products in the economy,
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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Proponents of free markets argue that if all markets were
Answer is not Option C
![Proponents of free markets argue that if all markets were perfectly competitive and if the government allowed prices to be determined by de
for all products in the economy,
O A. price would equal marginal cost and total surplus to society would be maximized.
B. marginal cost would equal zero and consumer surplus would be maximized.
C. price would equal marginal cost and consumer surplus would be maximized.
O D. marginal cost would equal zero and total surplus to society would be maximized.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc0794a56-f4e7-4929-8b4c-b0859ba3a946%2F1b498a24-c82b-4854-9b76-263bca860d48%2Fyjdj2m_processed.png&w=3840&q=75)
Transcribed Image Text:Proponents of free markets argue that if all markets were perfectly competitive and if the government allowed prices to be determined by de
for all products in the economy,
O A. price would equal marginal cost and total surplus to society would be maximized.
B. marginal cost would equal zero and consumer surplus would be maximized.
C. price would equal marginal cost and consumer surplus would be maximized.
O D. marginal cost would equal zero and total surplus to society would be maximized.
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