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Question

© Macmillan Learning

Production inefficiency implies that

• people who want the specific goods cannot get them at any price.

workers are lazy.

too many Twinkies and too few Ding Dongs are produced.

• goods are produced at too high a cost.

Answer

Goods are produced at too high a cost.

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Production inefficiency refers to a situation where goods are produced at a higher cost than necessary. This means that resources are not being used in the most...