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.

Describe the definition of cost-benefit analysis.

there are nine characteristics of a market economy. choose two that are, in your opinion, most important and tell me why you selected them.

When does inefficiency exist in an economy? when a good is distributed fairly among buyers when a good is not distributed fairly among buyers when a good is not being produced by the lowest-cost producers when a good is being consumed by buyers who value it most highly

Select the good that doesn't belong to the same group. National defense Pollution control Public park Tornado siren

In capitalist economy, does it project a fair price for the consumer?

The act of using goods and services to satisfy the human wants is known as ______

Marginal benefit A) is the total benefit from all units consumed. B) is constant as more of a good is consumed. C) increases as more of a good is consumed. D) decreases as more of a good is consumed.

Sophia, Victoria, and Eve all would like a place to sit while waiting at their children's bus stop. The neighborhood association is considering installing several park benches at the bus stop. Sophia values the benches at $25, Victoria at $35, and Eve at $42. The park benches and labor for installation cost $100. If they are the only residents who value the benches, what should the neighborhood association do? Install the park benches because the benefits outweigh the costs. Install the park benches because people like places to sit. Do not install the park benches to prevent the Tragedy of the Commons problem of overuse. Do not install the park benches because the costs outweigh the benefits. A Moving to another question will save this response. «< Question 24 of 25 Close Window

Cooperatives have that get to vote on what the business doesGroup of answer choicesmembersproductscorporationseconomies