Question

question 49
productive efficiency refers to
the full employment of all available resources.
the production of the product mix most wanted by society.
production at some point inside of the production possibilities curve.
the use of the least - cost method of production.
question 50
if the lumber companies are required to internalize the negative externalities of deforestation, then we should expect the equilibrium price of wooden furniture to decrease.
true
false

Explanation:

• For Question 49: Productive efficiency means producing goods and services at the lowest - cost possible. It is about using the least - cost method of production.
• For Question 50: When lumber companies internalize negative externalities of deforestation, their costs increase. Higher costs shift the supply curve leftward, leading to an increase in the equilibrium price of wooden furniture, not a decrease.

Answer:

Question 49: the use of the least - cost method of production.
Question 50: false