Resource Use Is Allocatively Efficient When Marginal Benefit Is

question 92

Multiple Choice

Resource use is allocatively efficient when marginal benefit is

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

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Definitions:

Social Interaction

The process by which individuals act and react in relation to others, forming the basis of social relationships and structures.

Social Change

Involves alterations in the social structure, cultural patterns, and behavior over time in a society.

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Functionalists

Sociologists who focus on how the various parts of society contribute to the whole, emphasizing the way that each part of a society functions to maintain stability and social order.