Resources are used efficiently in the sunhat market because when . A. production is capital intensive, producer surplus is maximized B. marginal social benefit equals marginal social cost, total surplus is maximized C. new technologies are available, total surplus is maximized D. marginal social benefit equals marginal social cost, consumer surplus is maximized

The correct answer is B

Explanation:

Resources are used efficiently in the sunhat market because when marginal social benefit equals marginal social cost, total surplus is maximized. Thus, From the given four options only the option B is the correct option.

MSC = Marginal Social cost

MSB = Marginal Social Benefit

It is becuase in the competitive market, the quantity that is supplied in the market in same to the quantity which is demanded.

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