For Resource Use to Be Allocatively Efficient,when the Marginal Benefit

question 339

Multiple Choice

For resource use to be allocatively efficient,when the marginal benefit of a slice of pizza exceeds the marginal cost,________.

• A) more slices of pizza should be produced
• B) fewer slices of pizza should be produced
• C) no more slices of pizza should be produced
• D) allocative efficiency is reached only if the marginal benefit exceeds the marginal cost by as much as possible
• E) None of the above answers is correct.

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Definitions:

Lye

Lye refers to a strong alkaline solution, particularly of sodium hydroxide (NaOH) or potassium hydroxide (KOH), used in cleaning, soap making, and food preparation.

pH

A scale that measures the acidity or alkalinity of a solution, where 7 is neutral, values below 7 are acidic, and values above 7 are alkaline.

Mathematical Relationship

A connection between two or more variables or quantities, often expressed using equations or formulas.

pH

A scale used to specify the acidity or basicity of an aqueous solution, ranging from 0 (acidic) to 14 (basic).