________ is defined as a market outcome in which the marginal benefit to consumers of the last unit produced is equal to the marginal cost of production, and in which the sum of consumer surplus and producer surplus is at a maximum
A) Economic efficiency B) Consumer efficiency
C) Deadweight efficiency D) Producer efficiency
A
Economics
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In new growth theory, growth in real GDP per person occurs because
i. human capital grows indefinitely. ii. technology advances as a result of choices individuals make. iii. profit incentives encourage technological change. A) i only B) ii only C) iii only D) both i and iii E) i, ii, and iii
Economics
Corporations are legally owned by their board of directors
Indicate whether the statement is true or false
Economics