Resources Are Efficiently Allocated When Production Occurs at That Point

question 2

Multiple Choice

Resources are efficiently allocated when production occurs at that point at which

• A)marginal cost intersects average variable cost
• B)price is equal to average revenue
• C)price is equal to marginal cost
• D)marginal revenue equals marginal cost
• E)price is equal to average variable cost

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Definitions:

Citizen

A legally recognized subject or national of a state or commonwealth, either native or naturalized.

Limited Liability Company

A company framework that unites the limited liability aspect of a corporation with the pass-through tax advantages seen in partnerships and sole proprietorships.

Foreign Investors

Individuals or entities from one country investing in assets or businesses located in another country.

Limited Liability Company

A business format that links the corporation's limited liability feature with the tax efficiency of pass-through in partnerships or sole proprietorships.