Resource Use Is Allocatively Efficient If the

question 448

Multiple Choice

Resource use is allocatively efficient if the

• A) marginal cost of what the resource produces is equal to the marginal benefit of what is produced.
• B) total cost of what the resource produces is less than the total benefit of what is produced.
• C) total cost of what the resource produces is equal to the total benefit of what is produced.
• D) marginal benefit of what the resource produces has diminished to zero.

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Definitions:

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