Productive Efficiency Is Achieved When

question 130

Multiple Choice

Productive efficiency is achieved when

• A)firms add a low profit margin to the goods and services they produce.
• B)firms produce the goods and services that consumers value most.
• C)firms produce goods and services at the lowest cost.
• D)there are no shortages or surpluses in the market.

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Definitions:

Government Ownership

The possession and control of enterprises, assets, or property by a governmental body or authority, rather than private individuals or companies.