The socially efficient level of production occurs where the marginal-cost curve intersects which of the following curves?
A)demand
B)marginal revenue
C)supply
D)average cost

Question

Quizplus · Accepted Answer

The socially efficient level of production occurs where the marginal cost curve intersects the demand curve, as this point reflects the optimal allocation of resources where the cost of producing an additional unit equals the value consumers place on it.

The Socially Efficient Level of Production Occurs Where the Marginal-Cost