Economists assume maximizing efficiency over other goals:
A. is a guiding principle of policy-making.
B. is always the best approach.
C. should never be followed.
D. may not bring about the best outcome for society.
D. may not bring about the best outcome for society.
Economics
You might also like to view...
Minimum efficient scale is the level of output at which
a. short-run average total cost stops decreasing b. short-run average total cost stops increasing c. long-run average cost stops decreasing d. long-run average cost stops increasing e. profit stops increasing
Economics
The output level for a perfect price discriminator is found where
a. MR = ATC b. MC = P c. MR = P d. TR = TC e. AR = ATC
Economics