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
1microeconomics chapter 4by cactus11 termsOctober 15, 2008
2Exportby kjtl642 termsNovember 29, 2008
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