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A-LevelEconomicsTheory of the Firm / EfficiencyMay/June 2017Paper 3 Q21 Mark

What is a necessary condition for the achievement of productive efficiency? A the removal of all externalities B the elimination of all divergences between private and social costs C equality between price and marginal cost in all industries D the production of a good at minimum average cost for a given output

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About This A-Level Economics Question

This structured question appeared in the Cambridge A-Level Economics (9708) May/June 2017 examination, Paper 3 Variant 1. It tests the topic of Theory of the Firm / Efficiency and is worth 1 mark.

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