Which of the below statements is true? a. It is efficient to produce

Which of the below statements is true?

a. It is efficient to produce beyond the equilibrium output level as long as costs are low.
b. The level of output that maximizes the value of an economy’s output is found at the intersection of supply and demand in a competitive market.
c. Production and exchange is beneficial as long as the demand curve lies below the supply curve.
d. Mutually beneficial exchange is mostly harmful unless regulated.

ANSWER

b