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Economics
MEDIUM
ENGLISH
Economics
If a benevolent social planner chooses to produce more than the equilibrium quantity of a good, then ?
A
the value placed on the last unit of production by buyers exceeds the cost of production
Option A
the cost of production on the last unit produced exceeds the value placed on it by buyers.
Correct answer
C
consumer surplus is maximized
Option C
D
total surplus is maximized
Option D
Correct answer: B
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