When economists say an activity is consistent with economic efficiency, they mean
A) a majority of citizens favor the activity.
B) the benefits that result from the activity exceed the costs.
C) the number of people who gain from the activity exceeds the number on whom costs are imposed.
D) the costs that result from the activity exceed the benefits.
Correct Answer:
Verified
Q245: When there is excess demand for a
Q246: When economists say that market equilibrium is
Q247: When property rights are well defined and
Q248: Which of the following is true of
Q249: If equilibrium is present in a market,
A)
Q251: When economists say the supply of a
Q252: When there is excess supply of a
Q253: When property rights are well defined and
Q254: Which of the following are true?
A) Economists
Q255: Farmers can choose to produce eggs or
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