When Less Than the Efficient Amount of a Good Is

question 306

Essay

When less than the efficient amount of a good is produced,how does the marginal benefit of the last unit produced compare to its marginal cost?

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Definitions:

Hyperactivity

A condition characterized by overly active behavior that can include excessive talking, fidgeting, or difficulty remaining still and focused.

Impulsivity

A trait signifying a tendency to act on a whim, displaying behavior characterized by little or no forethought, reflection, or consideration of the consequences.

Biopsychosocial Approach

A holistic perspective in health and illness considering biological, psychological, and social factors as interconnected influences.

DSM-IV-TR

The American Psychiatric Association’s Diagnostic and Statistical Manual of Mental Disorders, Fourth Edition, updated as a 2000 “text revision”; a widely used system for classifying psychological disorders.