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

question 19

Multiple Choice

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

• A)economic profit is still 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 cost of producing the last unit exceeds its value to society.
• E)long-run average cost is falling.

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Definitions:

Sodium-Potassium Pump

A membrane-bound ATPase enzyme that pumps sodium out of cells while moving potassium into cells, crucial for maintaining cellular ion balance and membrane potential.

Plasma Membrane

A bi-layer of lipids and proteins that surrounds a cell, controlling the passage of substances in and out of the cell.

Membrane Potential

The electrical potential difference across a cell's plasma membrane, vital for the conduction of nerve impulses, muscle contraction, and transport processes.

Depolarization

A decrease in membrane potential that makes the interior of a cell less negative compared to the outside, crucial for nerve impulse transmission and muscle contractions.