The criterion of economic efficiency is that the _____ economic surplus that is generated, the _____ the outcome.
A)wider; deeper
B)narrower; better
C)more; better
D)more; worse

Question

Quizplus · Accepted Answer

Economic efficiency is achieved when the maximum economic surplus is generated. Economic surplus is the difference between the total benefits received by society and the total costs incurred in producing goods or services. Therefore, the more economic surplus that is generated, the better the outcome in terms of economic efficiency.

The Criterion of Economic Efficiency Is That the _____ Economic