Consumers get the most value out of their resources at and producers get the mos

Question

Consumers get the most value out of their resources at and producers get the most value out of their resources at A. ( B. O C. D. all points on and below the market demand curve: all points on and above the market supply curve only the competitive equilibrium quantity and price, only the competitive equilibrium quantity and price all points on and above the market demand curve; all points on and below the market supply curve all points on the market demand curve; all points on the market supply curve

Explanation / Answer

All point on the demand curve shows the maximum price which a consumer is ready to pay for buying a different quantity of goods.

All point on the supply curve shows the minimum price which a producer is ready to accept for a different quantity of goods sold.

Hence it can be said that consumer gets the most values out of their resources at all point on the demand curve, and the producer gets the most value out of their resources at all point on the market supply curve.

Hence option D is the correct answer.

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