When Every Good or Service Is Produced Up to the Point

question 162

Multiple Choice

When every good or service is produced up to the point where the last unit provides a marginal benefit to society equal to the marginal cost of producing it,________ occurs.

• A)allocative efficiency
• B)productive efficiency
• C)equity
• D)efficient central planning

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Definitions:

Appointments

Arranged meetings or engagements, often noted in calendars, between individuals or groups at specific times and places.

View

The way in which information is presented or displayed to a user in software or through a device.

Convert Words

This typically involves changing words from one form to another, such as converting verbs to nouns, or adapting text from one language to another.

Appointment Area

A designated zone or part of a schedule where appointments are booked or listed.