Multiple Choice
Production efficiency requires that
A) the economy be producing on the PPF but the marginal cost of a good does not need to equal its marginal benefit.
B) the economy be producing on the PPF and that the marginal cost of a good equals its marginal benefit.
C) the marginal cost of a good equals its marginal benefit but the economy does not need to be producing on its PPF.
D) the society be producing at the point of allocative efficiency.
E) opportunity costs be minimized.
Correct Answer:
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