When the marginal benefit equals the marginal cost of the last unit sold in a competitive market
A) producer surplus is equal to consumer surplus.
B) the net benefit of consumers is equal to the net benefit of producers.
C) an economically efficient level of output is produced.
D) total benefit is equal to total cost.
Question 2
To increase gas mileage, automobile manufacturers make cars small and light. Large cars absorb more of the impact of an accident than small cars but yield lower gas mileage.
These facts suggest that a positive relationship exists between safety and gas mileage.
Indicate whether the statement is true or false
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