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:

Cerebrospinal Fluid

A clear, colorless body fluid found in the brain and spine that acts as a cushion for the brain's cortex, providing basic mechanical and immunological protection to the brain.

Temporal

Relating to time or denoting the temples of the skull.

Occipital

Pertaining to the occipital bone or region, located at the back part of the skull, involving the visual processing center of the brain.

Parietal

Referring to the parietal lobe of the brain, involved in processing sensory information, or the parietal bones of the skull.