Multiple Choice
Allocative efficiency occurs when every good or service is produced up to the point where the last unit provides________.
A) a marginal benefit to society equal to the marginal cost of producing it.
B) a marginal benefit to society greater than the marginal cost of producing it.
C) a marginal benefit to society less than the marginal cost of producing it.
D) a marginal benefit to society equal to zero.
Correct Answer:
Verified
Correct Answer:
Verified
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