--%>
Assignment Help - homework help

State of good or service at last unit gives marginal benefit

Which of the given describes a situation in which each good or service is produced up to the point where the last unit gives a marginal benefit to consumers equivalent to the marginal cost of producing this? w) productive efficiency. x) allocative efficiency. y) marginal efficiency. z) profit maximization.

Hey friends please give your opinion for the problem of Economic that is given above.

   Related Questions in Business Economics

  • Q : Economics chapter 1 Suppose that on the

    Suppose that on the basis of a nation's production curve, an economy must sacrifice 10,000 pizzas domestically to get the 1 additional industrial robot it desires but that it can get the robot from another country in exchange for 9,000 pizzas. Relate this information to the following statement: "Thr

    		•
  • Q : What do you mean by Supply What do you

    What do you mean by Supply?

    		•
  • Q : Define the Legal forms of businesses

    Define the Legal forms of businesses?

    		•
  • Q : Illustrate the 3rd the government

    Illustrate the 3rd the government redistributes income?

    		•
  • Q : Illustrate other than price many factors

    Illustrate other than price many factors determine the outcome?

    		•
  • Q : Describe the Promoting stability

    Describe the Promoting stability?

    		•
  • Q : Wealth of Nations - pioneering survey

    The Wealth of Nations that a pioneering survey of economic treated was published within: (1) 1849 year, and written by Karl Marx. (2) 1936 year, and written by John Maynard Keynes. (3) 1776 year, and written by Adam Smith. (4) 141 BC,

    		•
  • Q : Micro economics and macro economics

    Micro economics and macro economics:Economic theory can be widely divided into micro and macroeconomics. The word micro means small and macro means big.In microeconomics, we deal

    		•
  • Q : Absolute advantage in international

    One early involvement of Adam Smith to the theory of gains by international trade, although later thoroughly revised and refined through David Ricardo, was the conception of: (1) mercantilism. (2) absolute advantage. (3) comparative a

    		•
  • Q : Circular flow model of the private

    I have a problem in economics on Circular flow model of the private sector. Please help me in the following question. The simple circular flow model of private sector doesn’t comprise: (i) Firms. (ii) Product markets. (iii) Government agencies.

    		•