Author Question: Resource use is allocatively efficient if the A) total cost of what the resource produces is less ... (Read 106 times)

NguyenJ · **on:** Jun 29, 2018

Resource use is allocatively efficient if the

A) total cost of what the resource produces is less than the total benefit of what is produced.
B) total cost of what the resource produces is equal to the total benefit of what is produced.
C) marginal benefit of what the resource produces has diminished to zero.
D) marginal cost of what the resource produces is equal to the marginal benefit of what is produced.

Question 2

A recession runs from the

A) peak of the business cycle to its trough.
B) peak of the business cycle to a recovery.
C) expansion of a business cycle to its peak.
D) trough of a business cycle to its peak.
E) trough of a business cycle to its expansion.