Resource Use Is Allocatively Efficient When Marginal Benefit Is

question 121

Multiple Choice

Resource use is allocatively efficient when marginal benefit is

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

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Definitions:

Employees

Individuals who are hired by a business or organization to perform specific tasks in exchange for compensation.

GST Remittance

This is the process of sending the collected Goods and Services Tax to the governing tax authority.

GST Returns

The periodic filing with the taxation authority detailing sales, the GST collected on sales, and the GST paid on purchases.

Correct To The Cent

Adjusting a monetary amount to ensure accuracy up to the smallest currency unit, often referring to rounding to the nearest cent.