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By Saying That MRS = MRT,an Economist Means That

Question 98

Multiple Choice

By saying that MRS = MRT,an economist means that


A) for all goods, the value that society places on the last unit produced equals the cost of making that unit.
B) for all goods, the value that a consumer places on the last unit consumed equals the value that all consumers would place on that unit.
C) society is able to produce more output of one good without reducing the output of any other good.
D) no other output mix is technically feasible.

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