Question

Social surplus is maximized when all buyers with the reservations values ___________ than the market price are actually making purchases and all sellers with the reservation values ___________ than the market price are selling the products.

Answer 1

highest-value; lowest-cost

Step-by-step explanation:

Social surplus can be define as the rate, amount of value or utility(which are welfare) a society has gotten from goods and services consumption. It is not not like money or resource.

it is also referred as economic surplus. it is the summation of the sum of consumer surplus and producer surplus. The economic surplus is referred to as welfare package in full