Answer: B. an output of the product that is less than the amount consistent with ideal economic efficiency
Explanation: Economic efficiency is the state in which all available resources are optimally allocated to serve each individual or entity in the best way while reducing to the minimum, waste and inefficiency. In reality, economic efficiency has shown that nothing can be improved without something else being hurt.
When competitive forces are weak, it leads to decrease in output as economic efficiency is only maximized when price is equal to marginal revenue because at this point both profit and efficiency are maximized.
Southeast id sayyyyyyyyyyyyyyyyyy
1. "Each person is to have an equal right to the most extensive total system of equal basic liberties compatible with similar system of liberty of all."
This is called the <em>greatest equality liberty system</em>. The principle addresses the question of the distribution of rights and liberties. This principle states that each person has the right to access basic liberties in the most extensive way that remains compatible with everyone maintaining such rights.
2. "Social and economic inequalities are to be arranged so that they are both:
(a) to the greatest benefit of the least advantaged, consistent with the just savings principle, and
(b) attached to offices and positions open to all under conditions of fair equality of opportunity."
This second feature is divided into the <em>difference principle </em>and the <em>equal opportunity principle</em>. The difference principle states that certain inequalities can be allowed as long as these benefit the less-advantaged members of society. The equal opportunity principle states that these advantages should be able to be acquired through work that is open to all. Therefore, everyone can have a realistic chance of acquiring them.
