What property does market equilibrium have for a perfectly competitive market wi

ID: 1197110 • Letter: W

Question

What property does market equilibrium have for a perfectly competitive market with no externalities?

Market equilibrium gives the highest possible consumer surplus.

Market equilibrium gives the highest possible producer surplus.

Market equilibrium gives the highest possible total revenue to sellers.

Market equilibrium gives the highest possible total surplus.

Market equilibrium gives the highest possible consumer surplus.

Market equilibrium gives the highest possible producer surplus.

Market equilibrium gives the highest possible total revenue to sellers.

Market equilibrium gives the highest possible total surplus.

Market equilibrium gives the highest possible total surplus.

whereas in other markets or in the presence of extenalities , some of the consumer or producer surplus goes to deadweight loss