Multiple Choice
Assume that society places a higher value on the last unit of X produced than the value of the resources used to produce that unit. With no spillovers, this information means that
A) total cost is greater than total revenue.
B) price is greater than marginal cost.
C) marginal cost is greater than price.
D) resources are being overallocated to X.
Correct Answer:
Verified
Correct Answer:
Verified
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