Allocative Efficiency Occurs in Markets When

question 40

Multiple Choice

Allocative efficiency occurs in markets when

• A)marginal benefit and marginal cost for the last unit sold are equal
• B)resources can be reallocated to increase the value of total output
• C)goods are produced at the minimum of average total cost
• D)goods are distributed evenly among consumers
• E)government establishes price ceilings below the market price

---

Definitions:

Autonomic Nervous System

The part of the nervous system that controls involuntary bodily functions, including heart rate, digestion, and respiratory rate.

Somatic Nervous System

A part of the peripheral nervous system that handles voluntary control of body movements through the action of skeletal muscles.

Autonomic Nervous System

The part of the nervous system that controls involuntary actions of the body, regulating functions such as heart rate, digestion, and respiratory rate.

Peripheral Nervous System

The portion of the nervous system lying outside the brain and spinal cord, which includes nerves that branch out to the rest of the body, facilitating communication between the body and central nervous system.