Solved

Efficiency in a Market Occurs When the Production of the Good

Question 338

Multiple Choice

Efficiency in a market occurs when the production of the good is such that


A) marginal benefit exceeds marginal cost.
B) marginal benefit equals marginal cost.
C) marginal benefit is lower than marginal cost.
D) the marginal cost stops increasing.
E) marginal benefit exceeds marginal cost by the maximum amount possible.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q333: In general,as the consumption of a good

Q334: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1458/.jpg" alt=" -The figure above

Q335: Which of the following describes the economic

Q336: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1458/.jpg" alt=" -The figure above

Q337: Lauren and Katy each bought a new

Q339: For resource use to be allocatively efficient,when

Q340: Jose works at Intel.His manager tells him

Q341: To an economist,"value" is the same as<br>A)

Q342: To determine how much of a good

Q343: The resource allocation method used for the