An Efficient Allocation of Productive Inputs Requires That

question 24

Multiple Choice

An efficient allocation of productive inputs requires that:

• A)each output has the same rate of technical substitution among inputs used.
• B)each output has the same marginal rate of substitution for consumers.
• C)each pair of outputs has the same rate of product transformation.
• D)each individual has the same marginal rate of substitution between outputs.

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Definitions:

Emergency Lights

Devices that provide illumination and visual signaling during power outages or emergency situations.

Müller-Lyer

An optical illusion involving lines of equal length that appear to be different lengths due to the addition of fins or arrows at the ends.

Meissner

Refers to Meissner's corpuscles, which are sensory receptors that respond to light touch and are located in the dermal papillae of the skin.

Ménière

A disorder of the inner ear that causes episodes of vertigo, tinnitus, hearing loss, and a feeling of fullness or congestion in the ear.