Figure 18.1.2 -Refer to Figure 18.1.2. The efficient level of output is: A) q₁. B) q₂. C) q₃. D) A mix of q₁ and q₃.

Name: Figure 18.1.2 -Refer to Figure 18.1.2. The efficient level of output is: A) q 1 . B) q 2 . C) q 3 . D) A mix of q 1 and q 3 .
Brand: Quizplus
Rating: 4.8 (38 reviews)

Question

Quizplus · Accepted Answer

The efficient level of output is typically where marginal cost equals marginal benefit, which is often represented by q₂ in economic models.

Figure 18.1.2 -Refer to Figure 18.1.2. the Efficient Level of Output Is