Question

When is a market efficient?When total surplus is maximized, the market will be efficient.Click or tap "True" or "False" to answer the question.

Answer 1

Answer:

TRUE

Explanation:

Whrn the market is efficient the total surplus ( consumer and producer surplus) Is that their peak thus, any intervention from the government will generate deadweight-loss and make in inefficient. This will reduce the surplus of one or both, the consumer or producer and thus, not achieving the maximum surplus