Multiple Choice
An efficient distribution of goods requires that
A) everyone gets an equal share of each good.
B) marginal cost equal marginal utility for the last unit produced.
C) each person derives the same total utility from the good.
D) since tastes differ, every person pays a different price in accordance with different marginal utilities.
Correct Answer:
Verified
Correct Answer:
Verified
Q49: The task of deciding which consumer gets
Q50: Central planning is an efficient method for
Q51: Figure 11-1<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8592/.jpg" alt="Figure 11-1
Q52: A factory in a centrally planned economy
Q53: An unplanned economy operating under laissez-faire<br>A)allocates resources
Q55: In a free market, a given unit
Q56: Scarcity is illustrated graphically by a production
Q57: For an efficient outcome, MR must exceed
Q58: An example of peak pricing is charging<br>A)more
Q59: Command economies are able to achieve greater