Which of the following describes a situation in which every good or service is produced up to the point where the last unit provides a marginal benefit to consumers equal to the marginal cost of producing it?
A) profit maximization
B) productive efficiency
C) allocative efficiency
D) marginal efficiency
C
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Angelina Jolie's economic rent from starring in a movie is equal to the difference between:
A. her final salary and what she could earn by starring in a different movie. B. her initial salary offer and her final salary, including royalties. C. her final salary and the average salary for leading actresses. D. her final salary and the least she would be willing to accept to star in the movie.
A ham and cheese sandwich at the local deli costs $4.99 in 2005. If the CPI in 2005 was 90.0 and the CPI today is 121.0, the equivalent price for the ham and cheese sandwich today is
A) $6.71. B) $5.29. C) $4.99. D) $6.04. E) $5.54.
Increasing savings and ________ go hand in hand because they both ________
A) decreasing expenditures; are the result of an increase in nominal interest rates on the loanable funds market B) decreasing expenditures; are the result of an increase in real interest rates on the loanable funds market C) increasing expenditures; are the result of an increase in nominal interest rates on the loanable funds market D) increasing expenditures; are the result of an increase in real interest rates on the loanable funds market E) None of the above answers is correct.
Credit unions are federally insured through the
A) FDIC. B) FSLIC. C) NCUSIF. D) Comptroller of the Currency.