The marginal benefit of an additional beach towel is $8. The marginal cost of producing an additional beach towel is $12. If producersare not minimizing the average costs of production, then we can concludebeach towel production is neither allocatively nor productively efficient.beach towel production is allocatively efficient but not productively efficientO beach towel production is both allocatively and productively efficient.O beach towel production is not allocatively efficient but is productively efficient.

Marginal benefit is the gain earned by consumers by additional buying of goods. By buying more the…

The marginal benefit of an additional beach towel is $8. The marginal cost of producing an additional beach towel is $12. If producers are not minimizing the average costs of production, then we can conclude O beach towel production is neither allocatively nor productively efficient. O beach towel production is allocatively efficient but not productively efficient O beach towel production is both allocatively and productively efficient. O beach towel production is not allocatively efficient but is productively efficient.

The marginal benefit of an additional beach towel is $8. The marginal cost of producing an additional beach towel is $12. If producers are not minimizing the average costs of production, then we can conclude O beach towel production is neither allocatively nor productively efficient. O beach towel production is allocatively efficient but not productively efficient O beach towel production is both allocatively and productively efficient. O beach towel production is not allocatively efficient but is productively efficient.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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