When Every Good or Service Is Produced Up to the Point

question 219

Multiple Choice

When every good or service is produced up to the point where the last unit provides ________, allocative efficiency occurs.

• A)a marginal benefit to society equal to the marginal cost of producing it
• B)a marginal benefit to society greater than the marginal cost of producing it
• C)a marginal benefit to society less than the marginal cost of producing it
• D)a marginal benefit to society equal to zero

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Definitions:

Depressive Disorders

A category of mood disorders that involves persistent and significant feelings of sadness and despair.

Sleep Apnea

A sleep disorder characterized by episodes of cessation of breathing (apnea) that last at least 10 seconds. Diagnosis requires that there be at least five such episodes per hour of sleep.

Low Blood Oxygen

A medical condition in which there is a deficiency of oxygen in the blood, often indicating respiratory or circulatory issues.

Hypercortisolemia

A condition characterized by an excessive amount of cortisol in the blood.