What is productive efficiency?
A) A situation in which resources are allocated to their highest-profit use.
B) A situation in which resources are allocated such that goods can be produced at their lowest possible average cost.
C) A situation in which resources are allocated such that the last unit of output produced provides a marginal benefit to consumers equal to the marginal cost of producing it.
D) A situation in which firms produce as much as possible.
Correct Answer:
Verified
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A)the marginal
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