efficiency in a market is achieved when question 22 options: a) all firms are producing the good at the same low cost per unit. b) the sum of producer surplus and consumer surplus is maximized. c) a social planner intervenes and sets the quantity of output after evaluating buyers' willingness to pay and sellers' costs. d) no buyer is willing to pay more than the equilibrium price for any unit of the good.

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02-09-2022
Business

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efficiency in a market is achieved when question 22 options: a) all firms are producing the good at the same low cost per unit. b) the sum of producer surplus and consumer surplus is maximized. c) a social planner intervenes and sets the quantity of output after evaluating buyers' willingness to pay and sellers' costs. d) no buyer is willing to pay more than the equilibrium price for any unit of the good.

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monikaVT12 monikaVT12 · Answer 1 · 2022-09-11T12:36:53+02:00

Efficiency in a market is achieved when the sum of producer surplus and consumer surplus is maximized, Thus, the correct option is C).

What is efficient market?

Market efficiency refers to the degree how well current prices reflect all the available and relevant information about the assets and securities.

The more information available to all the market participants, would make the more efficient. There are three common types market efficiency are allocative, operational and informational.

Basically, a market is consider to be efficient if the allocation of resources maximises total surplus.

Learn more about efficient market here:-

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