Resource Use Is Allocatively Efficient

question 99

Multiple Choice

Resource use is allocatively efficient

• A) when marginal benefit equals marginal cost.
• B) whenever marginal benefit exceeds marginal cost.
• C) whenever marginal cost exceeds marginal benefit.
• D) when the maximum possible quantity is being produced.

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Definitions:

American Exports

Goods or services produced in the United States and sold to buyers in other countries.

Complicit

Being involved with others in an illegal activity or wrongdoing.

Factory Demand

The need or desire for manufactured goods, influencing production levels in factories.

Slave Trading

The act of buying and selling human beings for the purpose of forced and unpaid labor, a practice notably prevalent in the transatlantic slave trade until the 19th century.