When Price Signals Reflect _______ Benefits and _______ Costs of Choices

question 186

Multiple Choice

When price signals reflect _______ benefits and _______ costs of choices, we expect that the allocation of resources will be _______ .

• A) average; average; efficient
• B) marginal; marginal; inefficient
• C) marginal; average; efficient
• D) marginal; marginal; efficient

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Definitions:

Million

A numerical term representing one thousand thousands, or 1,000,000, used often to describe quantities or amounts in demographic, financial, and statistical data.

United States

A country located in North America, comprising 50 states, a federal district, five major self-governing territories, and various possessions.

Sole Proprietorships

A business structure where a single individual owns the company and is responsible for its debts and legal liabilities.

American Businesses

Companies and enterprises operating in the United States, contributing to its economy.