Question

Note: Attempt all the questions
1. A market is said to be efficient
A. if quantity demanded and the quantity supplied are the same.
B. if both consumer surplus and the producer surplus are maximized.
C. if the sum of the producer surplus and the consumer surplus is maximized
D. both a and c.​

Answer 1

Explanation:

a) if the quantity demanded and the quantity supplied are same

Answer 2

Explanation:

A. if the quantity demanded and the quantity supplied are the same