Resource Use Is Efficient When _______.

Resource Use Is Efficient When _______.?

Resource use is efficient when we can produce more of a good or service without giving up some other good or service that we value more highly.

What is the efficient quantity?

The efficient quantity of a good is the quantity that makes marginal benefit from the good equal to marginal cost of producing it. If marginal benefit exceeds marginal cost, resources use will be more efficiently if the quantity is increased.