Which of the following is true?
i.Production efficiency occurs only when resources are used to produce the combination of goods that has the greatest value.
ii.Allocative efficiency occurs when marginal benefit equals marginal cost.
iii.A demand curve is a marginal cost curve.
A) Only ii
B) Only i
C) Only iii
D) i and ii
E) ii and iii
Correct Answer:
Verified
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i.Marginal cost
A)
A)
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