Within the framework of economics, optimization means providing a good or service until: a. marginal benefits and marginal costs are equal. b. marginal benefits exceed marginal costs by the greatest amount possible. c. total benefits are greater than total costs. d. total benefits and total costs are equal. e. total benefits are maximized
Within the framework of economics, optimization means providing a good or service until: a. marginal benefits and marginal costs are equal. b. marginal benefits exceed marginal costs by the greatest amount possible. c. total benefits are greater than total costs. d. total benefits and total costs are equal. e. total benefits are maximized
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Within the framework of economics, optimization means providing a good or service until: a. marginal benefits and marginal costs are equal. b. marginal benefits exceed marginal costs by the greatest amount possible. c. total benefits are greater than total costs. d. total benefits and total costs are equal. e. total benefits are maximized.
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