The Principle of Inertia Was First Described by

question 23

Multiple Choice

The principle of inertia was first described by

• A) Wilhelm Conrad Roentgen
• B) Sir Isaac Newton
• C) Thomas Alva Edison
• D) Crookes

---

Definitions:

Allocative Efficiency

A state where resources are allocated in a way that maximizes the net benefit to society, with products being produced at a quantity where the price equals marginal cost.

Consumer Surplus

The contrast between the total payment consumers are willing and financially able to make for a good or service and the amount they truly pay.

Producer Surplus

The discrepancy between the price producers agree to sell a good for and the price they actually end up receiving.

Economic Efficiency

A condition in which resources are allocated in the most effective way possible, maximizing outputs from given inputs without waste.