Productive Efficiency Is

question 172

Multiple Choice

Productive efficiency is

• A)a situation in which resources are allocated to their highest profit use
• B)a situation in which resources are allocated such that goods can be produced at their lowest possible average cost
• C)a situation in which resources are allocated such the last unit of output produced provides a marginal benefit to consumers equal to the marginal cost of producing it
• D)a situation in which firms produce as much as possible

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Definitions:

Fraternal Twins

Twins that develop from two different eggs fertilized by two different sperm, resulting in siblings that are genetically distinct.

Identical Twins

Twins that develop from a single fertilized egg, sharing 100% of their genetic material and often used in studies to explore the nature vs. nurture debate.

Gray Matter

A major component of the central nervous system, consisting of neuronal cell bodies, dendrites, and unmyelinated axons, associated with processing and cognition.

Dizygotic Twins

Also known as fraternal twins, they are siblings born at the same time as a result of two different eggs being fertilized by two different sperm, sharing about 50% of their DNA.