If the opportunity cost of producing more of one good remains the same as more of that good is produced, then the production method is inefficient.
Indicate whether the statement is true or false
Question 2
When consumers pay only a fraction of the true cost of medical services, their demand increases. The marginal cost of producing these extra services
A) is less than the marginal benefit consumers receive from them.
B) is equal to the marginal benefit consumers receive from them.
C) is greater than the marginal benefit consumers receive from them.
D) is zero due to the insurance payments.
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Good ethical judgment comes from both learning and experience.
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