IF THE MARGINAL BENEFITS OF THE OUTPUT FROM RESOURCES DEVOTED TO T...

142.If the marginal benefits of the output from resources devoted to the production of a product are greater than the marginal costs, then there has been an overallocation of resources to the production of that product.True→ False AACSB: AnalyticBlooms: RememberDifficulty: 2 Medium

Test Bank for Essentials of Economics 3rd Edition by Brue

Learning Objective: 01-04 List the categories of scarce resources and delineate the nature of the economizing problem.

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Topic: Production possibilities modelTrue / False Question