Ask Question
25 March, 05:22

Efficiency in a market occurs when the production of the good is such that the marginal cost stops increasing. marginal benefit equals marginal cost. marginal benefit exceeds marginal cost by the maximum amount possible. marginal benefit is lower than marginal cost. marginal benefit exceeds marginal cost.

+2
Answers (1)
  1. 25 March, 05:35
    0
    Marginal cost is the opportunity cost of production. When marginal benefits is lower than marginal cost, that means production is inefficient and therefore should be stopped. When marginal benefit exceeds marginal cost, it means production is efficient and therefore can be continued.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Efficiency in a market occurs when the production of the good is such that the marginal cost stops increasing. marginal benefit equals ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers