For an Entire Economy,allocative Efficiency Requires That

question 76

Multiple Choice

For an entire economy,allocative efficiency requires that

• A)goods are allocated equitably across markets.
• B)marginal cost equals price for all goods.
• C)MRP is equated for all factors of production.
• D)price equals average cost for all goods.
• E)price is greater than marginal cost for all goods.

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Definitions:

Shale Layer

A shale layer is a sedimentary rock formation characterized by fine-grained clay particles, often found in various geological strata and known for being a source of oil and natural gas through hydraulic fracturing.

Geologic Events

Significant occurrences in the Earth's history that have shaped its surface and structure, including volcanic eruptions, earthquakes, and glaciations.

Deposition

The geological process in which sediments, soil, and rocks are added to a landform or landmass due to the action of wind, water, or ice.

Metamorphic Rocks

Rocks that have been transformed from pre-existing rock types through heat, pressure, and/or chemically active fluids.