If all goods and services were produced efficiently:
A) there would be no more opportunity costs.
B) there would no longer be a problem with scarcity.
C) the largest attainable output would be produced from available resources.
D) all of the above.

Question

Quizplus · Accepted Answer

Efficient production means that the largest possible output is being produced from the available resources, maximizing the use of inputs to achieve the best possible outcomes. This does not eliminate opportunity costs or scarcity, as resources are still limited and choices must be made about their use.

If All Goods and Services Were Produced Efficiently