What Is Productive Efficiency

question 38

Multiple Choice

What is productive efficiency?

• 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:

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The capability to use small muscles, typically in the hands and fingers, for tasks requiring precision, such as writing or manipulating small objects.

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The brain’s ability to change, especially during childhood, by reorganizing after damage or by building new pathways based on experience.