When a Nation Is Producing the Allocatively Efficient Quantity of a Product

question 419

True/False

When a nation is producing the allocatively efficient quantity of a product, the marginal benefit of producing the good equals the marginal cost of producing that good.

---

Definitions:

Self-Handicapping

Self-handicapping is a strategy where individuals create obstacles for themselves as an excuse for potential failure, protecting their self-esteem.

Self-Enhancement Motive

The desire to learn favorable or flattering things about the self.

Appraisal Motive

The simple desire to learn the truth about oneself, whatever it is

Automatic Egotism

Response by the automatic system that “everything good is me, and everything bad is not me”