Two Goods Are Allocated Efficiently Between Consumers When _____

question 50

Multiple Choice

Two goods are allocated efficiently between consumers when _____.

• A)the quantities of goods they consume are equal
• B)the marginal rates of substitution between the two goods are the same for both consumers
• C)there can be further exchanges that will make both consumers better off
• D)redistribution makes one consumer better off at the expense of the other

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Definitions:

Ethnicity

A social category that divides people based on common cultural, ancestral, language, or national experiences, often marked by shared traditions and heritage.

Socioeconomic Gradient

A term used to describe the stepped levels of economic and social position or status that typically influence individuals' health, access to resources, and life opportunities.

Health

A state of complete physical, mental, and social well-being and not merely the absence of disease or infirmity, according to the World Health Organization.

Black Plague

Also known as the Black Death, it was a devastating global epidemic of bubonic plague that struck Europe and Asia in the 14th century.