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The optimal use of a resource takes place when which of the following happens?

  • Question 6b of 10 - Utility

  • Maximum Attempts: 1
  • Question Type: Multiple Choice
  • Maximum Score: 2
  • Question: The optimal use of a resource takes place when which of the following happens?
  • Answers:
  1. There is a decrease in the marginal utility of a decision.
  2. The supply and demand curves never intersect.
  3. The opportunity cost is greater than the actual cost.
  4. The benefit is greater than the opportunity cost.

The correct answer is: The benefit is greater than the opportunity cost. When a resource is being put to its optimal use, there is no way to get a greater benefit out it.

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