162) If a benevolent social planner chooses to produce less than the equilibrium quantity of a good, then

total surplus is maximized

the value placed on the last unit of production by buyers exceeds the cost of production

producer surplus is maximized

the cost of production on the last unit produced exceeds the value placed on it by buyers

Answer is:

the value placed on the last unit of production by buyers exceeds the cost of production

the value placed on the last unit of production by buyers exceeds the cost of production

the cost of production on the last unit produced exceeds the value placed on it by buyers

consumer surplus is maximized

total surplus is maximized

Answer is:

none of these answers

the minimum amount the seller is willing to accept for a good

the seller’s producer surplus

the maximum amount the seller is willing to accept for a good

Answer is:

above the supply curve and below the price

below the demand curve and above the price

below the demand curve and above the supply curve

below the supply curve and above the price

Answer is:

increases producer surplus

does all of the things described in these answers

decreases producer surplus

improves market equity

Answer is: