For Public Goods,in General,the Optimal Output Level Is Found Where

question 48

True/False

For public goods,in general,the optimal output level is found where the marginal benefits of additional production equal marginal cost.

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Definitions:

Intensive Technology

Service technology that focuses the efforts and talents of many people to serve clients.

Flexible Manufacturing Systems

An approach to manufacturing that allows for the easy adaptation of production processes to changes in product type and quantity.

Flexibility

The ability to adapt or change according to different circumstances, requirements, or conditions, often considered a vital asset in both personal and organizational contexts.

Efficiency

The measure of how effectively resources are used to achieve a goal or outcome, with minimal waste of time, effort, and cost.