They used <span> Independent record labels to their advantage.</span>
Answer: C) total surplus is maximized.
Explanation:
Total surplus refers to the sum of both the producer and the consumer surplus.
When allocation of resources is efficient, it means that the total surplus is maximised because the price that is being charged is the same as the equilibrium price that is required.
At this point, all participants in the market will be better off which means both producers and consumers will be better off.
The answer is either B or C. I think it may be C.
Answer:
This person said it in the question lol. All answers but B.
