The optimal mix of output is the most desirable combination of output attainable with existing

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Quizplus · Accepted Answer

The optimal mix of output depends on a combination of resources, technology, and social values. Resources and technology influence the production possibilities of a country or firm, while social values provide guidance on what goods and services should be produced to best meet the needs and wants of society. Government regulations also play a role in shaping the optimal mix of output, but they are only one of several factors that must be considered. Business decisions can also influence the mix of output, but they are usually guided by the other factors mentioned above. Overall, the most desirable combination of output depends on finding a balance between economic efficiency and social welfare.

The Optimal Mix of Output Is the Most Desirable Combination