Economic surplus A) is equal to the difference between ...

[cnetterville]

Economic surplus
 
  A) is equal to the difference between consumer surplus and producer surplus.
  B) is equal to the sum of consumer surplus and producer surplus.
  C) does not exist when a competitive market is in equilibrium.
  D) is the difference between quantity demanded and quantity supplied when the market price for a product is greater than the equilibrium price.

Question 2

If a country is producing efficiently and is on the production possibilities frontier, the only way to produce more of one good is with an advance in technology.
 
  Indicate whether the statement is true or false

[fatboyy09]

Answer to Question 1

B

Answer to Question 2

FALSE

[cnetterville]

Thank you

[fatboyy09]

Happy to help you