A. the value placed on the last unit of production by buyers exceeds the cost of production
B. the cost of production on the last unit produced exceeds the value placed on it by buyers.
C. consumer surplus is maximized
D. total surplus is maximized
E. producer surplus is maximized
Correct Answer: the cost of production on the last unit produced exceeds the value placed on it by buyers. ✔
Last Updated: June 18, 2019