Attaining "Allocative Efficiency" Means That

question 155

Multiple Choice

Attaining "allocative efficiency" means that

• A) the law of increasing opportunity costs has reached a maximum.
• B) the least costly methods are being used to produce a product.
• C) resources are being devoted to the production of products most desired by society.
• D) the gap between marginal benefits and marginal costs of the product is biggest.

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Definitions:

Public Safety

The welfare and protection of the general public, typically assured by government services like police, fire departments, and emergency medical services.

Pacific Coastline

The western boundary of the United States and Canada facing the Pacific Ocean, known for its diverse ecosystems and scenic beauty.

Tsunamis

Large, often destructive sea waves caused by underwater earthquakes, volcanic eruptions, or landslides.

Correct Verb

The accurate or suitable use of a verb in a sentence, aligning with the subject in number and tense for grammatical consistency.