Asked by shawn christian on Jun 30, 2024
Verified
Refer to Figure 16.1. The ________ amount of fertilizer is 50 bags.
A) efficient
B) unregulated
C) break-even
D) equitable
Efficient Amount
The quantity of a product or service that achieves a perfect balance between economic efficiency and the satisfaction of all market participants.
- Recognize the consequences of government actions and market variables on production rates.
- Perceive the association among marginal costs, marginal benefits, and the regulation of efficient production operations.
Verified Answer
HL
holden landryJul 07, 2024
Final Answer :
A
Explanation :
The term "efficient" in economics often refers to the optimal point where the maximum benefit is achieved. In the context of the question, if 50 bags of fertilizer is the amount that maximizes benefits or outcomes, it would be considered the efficient amount.
Learning Objectives
- Recognize the consequences of government actions and market variables on production rates.
- Perceive the association among marginal costs, marginal benefits, and the regulation of efficient production operations.