What standard is used to determine the most efficient economic outcome?
A)lowest cost
B)highest benefit
C)largest economic surplus
D)smallest inequality

Question

Quizplus · Accepted Answer

The largest economic surplus is used to determine the most efficient economic outcome. This represents the difference between the total benefit and the total cost of a decision or action, and maximizing economic surplus ensures that resources are utilized in the most efficient way possible.

What Standard Is Used to Determine the Most Efficient Economic