Multiple Choice
Allocative efficiency is achieved when
A) goods and services are fairly distributed among consumers in an economy.
B) firms produce the goods and services that consumers value most.
C) firms produce goods and services at the lowest cost.
D) there are no shortages or surpluses in the market.
Correct Answer:
Verified
Correct Answer:
Verified
Q181: The branch of economics which studies the
Q182: What does the term "marginal" mean in
Q183: Which of the following is a macroeconomic
Q184: As population declines,scarcity eventually disappears.
Q185: In a market economy,those who are willing
Q187: Suppose the extra annual cost to a
Q188: Cassie's Quilts alters,reconstructs,and restores heirloom quilts.Cassie has
Q189: One reason some manufacturing companies began moving
Q190: Marginal benefit is the benefit that your
Q191: What is the difference between accounting profit