« previous next »

Author Question: Allocative efficiency occurs in markets when a. goods are produced using the least amount of ... (Read 69 times)

PhilipSeeMore

  • Hero Member
  • *****
  • Posts: 561
on: Jun 30, 2018
Allocative efficiency occurs in markets when
 a. goods are produced using the least amount of society's scarce resources
  b. goods are produced at the lowest possible average total cost
  c. goods are produced at the lowest possible marginal cost
  d. the value to society of the last unit produced equals its marginal cost
  e. the value to society of the last unit produced is greater than its marginal cost

Question 2

Cell phone companies offer pricing plan alternatives in order to convert some
 a. consumer surplus into profit
  b. producer surplus into profit
  c. economic profit into normal profit
  d. profit into consumer surplus
  e. consumer surplus into deadweight loss


Tonny

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Mendel's breeding program that produced a 9 : 3 : 3 : 1 ratio Mendel's breeding program that produced a 9 : 3 : 3 : 1 ratio
Worldly Goods Worldly Goods
Behavior modification has been useful in raising the amount of social responding by children with ... Behavior modification has been useful in raising the amount of social responding by children with ...
Technical service bulletins (TSBs) are issued by vehicle manufacturers when a fault occurs that ... Technical service bulletins (TSBs) are issued by vehicle manufacturers when a fault occurs that ...
Preload is related to the amount of blood and stretching of the ventricular myocardial fibers Preload is related to the amount of blood and stretching of the ventricular myocardial fibers
The hormone leptin is produced in fat cells, moves through the blood, and binds to receptors in the The hormone leptin is produced in fat cells, moves through the blood, and binds to receptors in the
Video: Ultrasound of a Fetus (Sonogram)

For a complete list of videos, visit our video library