Multiple Choice
Resource use is allocatively efficient if the
A) marginal cost of what the resource produces is equal to the marginal benefit of what is produced.
B) total cost of what the resource produces is less than the total benefit of what is produced.
C) total cost of what the resource produces is equal to the total benefit of what is produced.
D) marginal benefit of what the resource produces has diminished to zero.
Correct Answer:
Verified
Correct Answer:
Verified
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