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:

Labour Market Shelters

Sectors or practices within the job market that provide protection for workers, often through regulations, unions, or social policies.

Internal Labour Markets

Employment markets within organizations where workers are hired into entry-level positions and then progress to higher levels within the firm.

Unionized

Refers to workplaces where the employees are organized into a union to advocate for their rights and interests.

Single Parent

An individual who is the sole caregiver and provider for one or more children without the involvement or support of the other biological parent.