If the marginal benefit of a good exceeds its marginal cost
A) we've achieved efficient resource use.
B) we should produce more to achieve the allocatively efficient use of resources.
C) we should produce less to achieve the allocatively efficient use of resources.
D) we cannot tell if more or less should be produced to achieve the allocatively efficient use of resources.
B
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The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
Refer to Scenario 12.2. The ideal mixed strategy for Eliza has her donating her kidney with ________ probability
A) 15% B) 25% C) 45% D) 75%
Many agricultural products, such as wheat, are produced by thousands of different producers that grow essentially the same product. The market structure that best describes such a model is:
a. perfect competition. b. monopoly. c. monopolistic competition. d. oligopoly. e. monopsony.
Recall the Application about the merger of Sirius Satellite Radio and XM Satellite Radio to answer the following question(s).Recall the Application. What were the tradeoffs that government regulators had to consider in determining whether to allow Sirius and XM to merge?
What will be an ideal response?