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Loraine Loraine
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Posts: 4563
9 years ago
Which of the following is true?
i.   Production efficiency occurs only when resources are used to produce the combination of goods that has the greatest value.
ii.   Allocative efficiency occurs when marginal benefit equals marginal cost.
iii.   A demand curve is a marginal cost curve.
A) only ii
B) only i
C) only iii
D) i and ii
E) ii and iii
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
Read 176 times
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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SydnieSydnie
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Posts: 3807
8 years ago
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8 years ago
I was confident with my answer, glad it was correct.

Oh, and thumbs-up are more than welcome Slight Smile
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