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Economics
MEDIUM
ENGLISH
Economics
In general, if a benevolent social planner wanted to maximize the total benefits received by buyers and sellers in a market, the planner should?
A
choose a price below the market equilibrium price
Option A
allow the market to seek equilibrium on its own.
Correct answer
C
Choose any price the planner wants because the losses to the sellers (buyers) from any change in price are exactly offset by the gains to the buyers (sellers).
Option C
D
choose a price above the market equilibrium price
Option D
Correct answer: B
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