When Every Good or Service Is Produced Up to the Point

question 219

Multiple Choice

When every good or service is produced up to the point where the last unit provides ________, allocative efficiency occurs.

• A)a marginal benefit to society equal to the marginal cost of producing it
• B)a marginal benefit to society greater than the marginal cost of producing it
• C)a marginal benefit to society less than the marginal cost of producing it
• D)a marginal benefit to society equal to zero

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Definitions:

Sex Type

A limiting boundary within one’s zone of acceptable alternatives; it emerges as an influence in Stage 2, where children become aware of the sex-appropriateness of different occupations.

Prestige Level

A measure of the societal respect, recognition, and admiration that is associated with a particular occupation or position.

Career Intervention

A strategic approach aimed at helping individuals make informed educational, career, and employment decisions and manage their careers effectively.

Gottfredson's Theory

A theory developed by Linda Gottfredson that outlines how individuals develop their career aspirations and make career choices, heavily influenced by their perception of social acceptability and their cognitive ability.