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When the marginal benefit of an output equals the marginal cost, Multiple Choice market failure occurs. allocative but not productive efficiency occurs. the correct amount
When the marginal benefit of an output equals the marginal cost, Multiple Choice market failure occurs. allocative but not productive efficiency occurs. the correct amount of society's scarce resources is efficiently allocated to that output. productive but not allocative efficiency occurs
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
2nd edition
1464187029, 978-1464189104, 1464189102, 978-0716759751, 716759756, 978-1464187025
