Welfare economics explains which of the following in the market for televisions? a. The government sets the quantity of televisions; firms respond to the quantity by charging a specific price. b. The government sets the price of televisions; firms respond to the price by producing a specific level of output. c. The market equilibrium price for televisions maximizes the total welfare of television buyers and sellers. d. The market equilibrium price for televisions maximizes consumer welfare and minimizes producer profit.

c. The market equilibrium price for televisions maximizes the total welfare of television buyers and sellers.

Explanation:

Welfare economics by definition , is the study of how various  allocation of resources affects economic well-being of buyers, seller and community at large. This study seeks to evaluate economic policies and determines their effects on the well-being of buyers and sellers. It assumes that an efficient allocation can be attained by a competitive equilibrium, given the market mechanisms that cause redistribution. However, the tools of welfare economics are not reliable when markets are inefficient.

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the u.s. census bureau produces data on the population and economy nationwide. it can you to analyze the kind of people living in your neighborhood. it does not show you the market of people willing to buy your product or an existing market for your product. that will require more market research. the census bureau only gives you an insight to the demographics in your area.