Flashcard sets with a 'economic efficiency' term meaning 'a market outcome in which the marginal benefit to consumers of the last unit produced is equal to its marginal cost of production, and in which the sum of consumer surplus and producer surplus is at a maximum.'

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1-2 of 2Flashcard sets with a 'economic efficiency' term meaning 'a market outcome in which the marginal benefit to consumers of the last unit produced is equal to its marginal cost of production, and in which the sum of consumer surplus and producer surplus is at a maximum.'
# Title Terms Date
1Econ 101 Midterm 1by dhaynes75 termsFebruary 7, 2007
2Economics Ch.2by sunxshine18 termsSeptember 8, 2008
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