Author Question: Resource use is efficient when production is such that marginal social benefit is A) greater than ... (Read 52 times)

londonang · **on:** Jun 29, 2018

Resource use is efficient when production is such that marginal social benefit is

A) greater than marginal social cost.
B) equal to marginal social cost.
C) less than marginal social cost.
D) at its maximum value.

Question 2

An example of a short-run fixed factor of production is

A) capital equipment.
B) labor.
C) electricity.
D) postage for mailing.