When economic efficiency is attained, it implies all of the following, except:
A. Per-unit cost of output produced is at minimum
B. Allocative efficiency is achieved
C. Total consumer and producer surplus is at a maximum
D. The gap between marginal benefits and marginal costs of production is at maximum
D. The gap between marginal benefits and marginal costs of production is at maximum
You might also like to view...
In the figure above, the rightward shift from the demand for loanable funds curve DLF1 to the demand for loanable funds curve DLF2, could be the result of
A) a decrease in expected profit. B) a fall in the interest rate. C) an increase in wealth. D) a rise in the interest rate. E) an increase in expected profit.
Joseph starts driving with much less care after buying car insurance. His behavior is an example of ________
A) moral hazard B) a domino effect C) adverse selection D) herd behavior