If Marginal Benefit Is Less Than Marginal Cost,output Is Inefficiently

question 4

True/False

If marginal benefit is less than marginal cost,output is inefficiently high.

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Definitions:

Supplement Income

Additional income earned beyond the primary source of income, often used to meet extra expenses or save for future needs.

Going Rate

The current average or standard price for goods or services in a particular market or industry.

Lottery

A form of gambling involving the drawing of numbers at random for a prize.

Annuity

A financial instrument that provides a regular sequence of payments to a person, mainly serving as a source of income for those who have retired.