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
Examples of the most common X-ray positions and the images they produce.
The primary response causes B cells to produce memory B cells and a few antibodies. The second ...
A Fischer-Tropsch processing plant is able to produce a variety of fuels from coal.
Ecosystem Services
Bt corn has been genetically engineered to produce a protein