Within the framework of economics, optimization means providing a good or service until
A)total benefits are maximized.
B)total benefits and total costs are equal.
C)marginal benefits exceed marginal costs by the greatest amount possible.
D)marginal benefits and marginal costs are equal.
E)as long as total benefits are greater than total costs, any amount may be optimal under the right circumstances.

Question

Quizplus · Accepted Answer

Optimization in economics occurs when marginal benefits equal marginal costs, as this is the point where net benefits are maximized.

Within the Framework of Economics, Optimization Means Providing a Good