Productive efficiency means that A. every good or service is produced up to the point where marginal benefit is equal to marginal cost. B. a good or service is produced at the lowest possible cost. C. every good or service is distributed fairly. D. a good or service is produced as quickly as possible.

**Answer:** B. a good or service is produced at the lowest possible cost. **Explanation:** In economics, **productive efficiency** occurs when goods and services are produced at the lowest possible cost. This means that the economy is operating on its production possibility frontier (PPF), utilizing all resources efficiently without any waste. Let's break down the options: - **A.** Refers to **allocative efficiency**, where resources are distributed in a way that maximizes societal welfare, achieving a balance where marginal benefit equals marginal cost. - **B.** Correctly defines **productive efficiency** as producing goods or services at the lowest possible cost. - **C.** Relates to **equity** or **fair distribution**, not efficiency. - **D.** Concerns the speed of production, which isn't a standard measure of economic efficiency. Therefore, the best answer is: **B. a good or service is produced at the lowest possible cost.**