When efficiency is attained, the sum of the total amount of consumer surplus and producer surplus is?

1 answer:

8 0

<span>Although information may be missing, i will answer anyway as this can be answered in a general sense even without data. When efficiency is attained, the sum of the total amount of consumer surplus and producer surplus is MAXIMIZED. This just means that if efficiency is assumed to be attained in the market for a basket of goods or a specific good, then the sum of consumer and producer surplus is the highest that it can possibly be given the values and variables in a scenario. This maximization can be achieved through any distribution of total surplus whether or not there is an imbalance of surplus distribution to consumers or producers (IE one side gets more share of the total surplus than the other but the total surplus is the highest it can possibly be given the parameters in the scenario).</span>

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