What Is Productive Efficiency

question 38

Multiple Choice

What is productive efficiency?

• A)a situation in which resources are allocated to their highest profit use
• B)a situation in which resources are allocated such that goods can be produced at their lowest possible average cost
• C)a situation in which resources are allocated such the last unit of output produced provides a marginal benefit to consumers equal to the marginal cost of producing it
• D)a situation in which firms produce as much as possible

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Definitions:

Television Show

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Mainstream Sociology

The dominant, widely accepted approaches and methodologies in the field of sociology, which often focus on large-scale social structures and processes.

Ethnomethodologists

Social scientists who study the methods people use in everyday life to make sense of their social world, focusing on the implicit norms and routines.

Radical

Pertaining to fundamental or extreme changes or actions, often in politics or social reform.