Allocative efficiency is achieved when
A) firms produce the goods and services that consumers value most.
B) firms produce goods and services at the lowest cost.
C) there are no shortages or surpluses in the market.
D) goods and services are fairly distributed among consumers in an economy.
Question 2
Assume that China has a comparative advantage in producing corn and exports corn to Japan. We can conclude that
A) Labor costs are higher for corn producers in Japan than in China.
B) China also has an absolute advantage in producing corn relative to Japan.
C) Japan has an absolute disadvantage in producing corn relative to China.
D) China has a lower opportunity cost of producing corn relative to Japan.
Step 2 of gene cloning: The actions of a restriction enzyme and DNA ligase to produce a recombinant
Kranz and Lörz first achieved in vitro plant fertilization
Regular staff meetings increase the efficiency of the medical office staff.
The Accessory Organs The liver, gallbladder, and pancreas produce digestive secretions that flow
Diagrams a mitotic chromosome, showing how chromatin is condensed to produce it
A pedigree for an X-linked dominant trait. Affected males produce all affected daughters and no affe