Efficient production requires that:there is a fair distribution of economic benefits.the quantity is produced that causes marginal cost to be equal to marginal benefit.each good produced goes to the person who gets the highest marginal benefit from it.production is distributed so that each good is produced at the lowest marginal cost.

The most suitable answer to the question would be (b) "the quantity is produced that causes marginal…

Answered: Efficient production requires that:…

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter7: Demand And Supply

Section: Chapter Questions

Problem 6AA

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