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.
CPT Modifiers Used for Medical Office Services Cont.
Examples of the most common X-ray positions and the images they produce.
Examples of the most common X-ray positions and the images they produce.
Shippers Declaration for Dangerous Goods
Hydrogen burns to produce energy and water
Energy Balance Is Achieved When Energy (Calories) In Equals Energy (Calories) Out