Resource Use Is Allocatively Efficient When Marginal Benefit Is

question 103

Multiple Choice

Resource use is allocatively efficient when marginal benefit is

• A) equal to marginal cost.
• B) greater than marginal cost.
• C) less than marginal cost.
• D) at its maximum value.

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Definitions:

Control Arm

A suspension component in a vehicle that connects the chassis to the wheel hub, allowing for motion while also maintaining alignment.

Belt-driven

Refers to a mechanism where a belt is used to transfer motion and power between pulleys or gears in various mechanical systems.

Hydraulic Pump

A device that converts mechanical energy and motion into hydraulic fluid power.

Gear Box

A casing containing the gears in a mechanical system, facilitating the transmission of power and allowing for speed/torque changes.