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April 28, 2015

Homework Help: Econ

Posted by Rob on Monday, March 30, 2009 at 12:32am.

A result of welfare economics is that the equilibrium price of a product is considered to be the best price
because it
a. maximizes total revenue for firms and maximizes the quantity supplied of the product.
b. maximizes the combined welfare of buyers and sellers.
c. minimizes costs and maximizes profits of sellers.
d. minimizes the level of welfare payments to those who no longer live below the poverty
line

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