A given level of output is efficient if no more social gain can be obtained from changing the output level.

Name: A given level of output is efficient if no more social gain can be obtained from changing the output level.
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Question

Quizplus · Accepted Answer

Efficiency is achieved when social gain is maximized and any further increase in output level would result in a decrease in social gain or no additional social gain. Therefore, a given level of output is efficient if no more social gain can be obtained from changing the output level.

A Given Level of Output Is Efficient If No More