When the marginal benefit of an output exceeds the marginal cost:
A. Production of that output should be increased, in order to achieve efficiency
B. Production of that output should be decreased, in order to achieve efficiency
C. Increasing the production of that output would increase the deadweight loss
D. Reducing the production of that output would reduce efficiency losses
A. Production of that output should be increased, in order to achieve efficiency
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The main policy goal for a country according to the mercantilists is
A) to create a one-time deficit in the balance of payments. B) to create a continuing deficit in the balance of payments. C) to create a one-time surplus in the balance of payments. D) to create a continuing surplus in the balance of payments. E) to create specie overflows.
Using an aggregate demand graph, illustrate the impact of an increase in the price level on aggregate demand
What will be an ideal response?