At the output level defining allocative efficiency: a. the areas of consumer and

Question

At the output level defining allocative efficiency: a. the areas of consumer and producer surplus necessarily areequal b. marginal benefit exceeds marginal cost the greatestamount c. consumer surplus exceeds producer surplus by the greatestamount d. the maximum willlingness to pay for the last unit ofoutput equals the minimum acceptable price of that unit ofoutput At the output level defining allocative efficiency: a. the areas of consumer and producer surplus necessarily areequal b. marginal benefit exceeds marginal cost the greatestamount c. consumer surplus exceeds producer surplus by the greatestamount d. the maximum willlingness to pay for the last unit ofoutput equals the minimum acceptable price of that unit ofoutput

Explanation / Answer

So the answer is "the maximum willlingness to pay for thelast unit of output equals the minimum acceptable price ofthat unit of output
"

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.