Allocative efficiency is achieved when the marginal benefit of a good
A) exceeds the marginal cost by as much as possible.
B) exceeds the marginal cost, but not by as much as possible.
C) is less than the marginal cost.
D) equals the marginal cost.
E) equals zero.
D
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The short-run supply curve for a perfectly competitive firm is that part of the firm's marginal cost curve that lies above the minimum point of its average variable cost curve
Indicate whether the statement is true or false
How much is the percentage of income received by the highest quintile on line R?
Refer to Figure 5-16. What is the optimal quantity of street lights to install?
A) 3
B) 4
C) 6
D) 9
Banks can
A. create money, but not destroy money. B. destroy money, but not create money. C. create and destroy money. D. neither create nor destroy money.