For an Entire Economy,allocative Efficiency Requires That

question 76

Multiple Choice

For an entire economy,allocative efficiency requires that

• A)goods are allocated equitably across markets.
• B)marginal cost equals price for all goods.
• C)MRP is equated for all factors of production.
• D)price equals average cost for all goods.
• E)price is greater than marginal cost for all goods.

---

Definitions:

Dial Caliper

A mechanical measuring caliper with a rotary display scale.

Component Measuring

The process of precisely determining the dimensions, capacity, or amount of various components or parts in manufacturing or engineering.

Posi-Drive Screw

A type of screw designed with a unique drive system that reduces the risk of cam-out and increases the efficiency of torque transmission.

Phillips Screw

A type of screw with a cross-shaped slot on its head, designed by Henry F. Phillips.