When Economic Efficiency Is Attained, It Implies All of the Following

question 19

Multiple Choice

When economic efficiency is attained, it implies all of the following, except

• A)per-unit cost of output produced is at minimum.
• B)allocative efficiency is achieved.
• C)total consumer and producer surplus is at a maximum.
• D)the gap between marginal benefits and marginal costs of production is at maximum.

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Definitions:

Reactivity

An indicator of how easily a substance reacts chemically with different materials.

Benzenesulfonic Acid

An organosulfur compound with the formula C6H6SO3H; it's a strong acid used as a catalyst and in the production of detergents and synthetic resins.

Nitrobenzene

An organic compound constituted by a benzene ring bonded to a nitro group, used in the production of anilines.

Activator

A substance that increases the rate of a chemical reaction without being consumed, often by lowering the activation energy.