An Overallocation of Resources in an Industry Means That for the Last

question 50

Multiple Choice

An overallocation of resources in an industry means that for the last unit produced,

• A)economic profit is negative but rising.
• B)society places a higher value on the resources required to produce the last unit than the value society places on consuming the last unit.
• C)the demand price for the last unit exceeds the marginal cost of producing the last unit.
• D)the marginal cost of production is falling.
• E)the average cost is falling.

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Definitions:

Business Needs

Requirements that must be met for a company to achieve its objectives, often including resources, technologies, and specific strategies.

Observation Method

A research technique where data is collected through direct visual or auditory observation of subjects in their natural environment or settings.

Telemarketer

A person who markets products or services to potential customers over the telephone.

Center-of-Influence

A strategy involving the use of prominent, influential individuals within a community or market to sway others' purchasing decisions or opinions.