Answer: Allocative efficiency occurs when the<u><em> marginal cost equals the marginal benefit to society</em></u>
Allocative efficiency is a state of the economy in which production stand for individual preferences, every commodity or work is produced up to the state where the last part renders a marginal benefit to individual equal to the marginal cost of producing.
<u><em>Therefore the correct option is (c)</em></u>
Answer:
In his landmark essay on the nature of economics, Lionel Robbins defined economics as. “the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses”
Explanation:
Answer:
what was the question write in english please i can't understand ☹️☹️
Answer and Explanation:
The journal entries are shown below:
On September 1
Cash $520
Sales $520
(Being the sale is recorded)
On September 1
Cost of goods sold $220
To Merchandise inventory $220
(Being the cost is recorded)
On September 1
Warranty expense $41.6 ($520 × 8%)
To Estimated warranty liability $41.60
(Being the warranty expense is recorded)
On July 24
Estimated warranty liability $36
To Repair parts inventory $36
(Being the estimated warranty liability is recorded)
I don’t understand what you are trying to say or what your question is?
