The marginal benefit of an additional beach towel is $8. The marginal cost of producing an additional beach towel is $12. If producers are not minimizing the average costs of production, then we can conclude:

beach towel production is Allocatively efficient but not productively efficient.

beach towel production is neither Allocatively nor productively efficient.

beach towel production is not Allocatively efficient but is productively efficient.

beach towel production is both Allocatively and productively efficient.

The marginal benefit of an additional beach towel is $12. The marginal cost of producing an additional beach towel is $8. If producers are minimizing the average costs of production, then we can conclude: O beach towel production is neither allocationly nor productively efficient O beach towel production is not allocationly efficient but is productively efficient. O beach towel production is allocationly efficient but not productively efficient. beach towel production is both allocationly and productively efficient.Moving to another question will save this response. Question 4 In a production possibilities frontier model, a point inside the frontier is O allocationly efficient. O productively inefficient., O productively efficient. O productively and allocatingly inefficient. D A Moving to another question will save this response.d. economic growth. Question 8 Not yet answered Points out of 1 Flag question GDP growth on a year-to-year basis is called Select one: a. real growth. O b. long-term growth. O c. nominal growth. O d. short-term growth. Question 9 Not yet answered Points out of 1 Flag questionWhich one of the following does not describe balance of trade? O A. Balance of trade is the difference between the value of goods a country exports and the value of goods a country imports. O B. Balance of trade is equal to the sum of current account balance and financial account balance. O C. Balance of trade shows when exports are larger than imports, there is a trade surplus. O D. Balance of trade is the largest item in the current account