_____ occurs when the mix of goods society decides to produce is produced at the lowest resource or opportunity cost.

Question

Quizplus · Accepted Answer

Production efficiency occurs when goods are produced at the lowest resource or opportunity cost, meaning that it is not possible to produce more of one good without producing less of another. This concept is related to producing goods in a way that maximizes the use of resources.

_____ Occurs When the Mix of Goods Society Decides to Produce