Efficiency is achieved
A) when output is being produced at a point inside a production possibilities curve.
B) when producers are getting the maximum possible output from the available resources.
C) when consumers are able to buy everything that they want.
D) when prices of all goods and services go to zero.

Question

Quizplus · Accepted Answer

Efficiency is achieved when producers are able to get the maximum possible output from the resources that they have. This means that they are using their resources in the most productive manner possible and are not wasting anything. Being able to fully utilize available resources leads to higher profits for producers and lower costs for consumers.

Efficiency Is Achieved