10. Which of the following assertions regarding the cost-benefit analysis (CBA) and social welfare function is correct?

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10. Which of the following assertions regarding the cost-benefit analysis (CBA) and social
welfare function is correct?
a. CBA values dollars to consumers but not to produces.
b. CBA values dollars to producers but not to consumers.
c. CBA places an equal value on dollars received by consumers and producers.
d. All social welfare functions place an equal value on dollars received by consumers
and producers.
11. Which one of the following is not part of the necessary conditions for efficient markets?
a. (Perfect) competition and information
b. Absence of externalities and public goods characteristics
c. Macroeconomic stability
d. Democracy
12. Why do Economists prefer competition to monopoly?
a. Competition increases social welfare
b. Economists place a higher value of gains to the consumer than on gains to
producers
c. Economists exclude profits when measuring social welfare.
d. Economists place a higher value on gains to producers than on gains to
consumers.
13. Supposed that solar panels are produced in a perfectly competitive industry, which of the
following statement on solar panels is correct?
a. Consumers do not consider all panels to be identical
b. There is no barrier to entry for new firms wanted to produce the identical quantity
of solar panels
c. Assuming there are no sources of market failure, the equilibrium point maximises
the sum of consumer plus producer surplus.
d. The equilibrium maximises producer’s surplus