The Optimal Level of Any Activity Is That Level for Which

question 77

Multiple Choice

The optimal level of any activity is that level for which

• A)total benefit is maximized.
• B)marginal benefit exceeds marginal cost by the greatest possible amount.
• C)total cost is minimized.
• D)both a and c
• E)none of the above

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Definitions:

Comstock Lode

A lode of silver ore located under the eastern slope of Mount Davidson, in Nevada, which was the first major discovery of silver ore in the United States, sparking a silver rush.

Mining Accident

A mining accident is an accident that occurs during the process of mining minerals. Thousands of miners die from mining accidents each year, especially in the process of coal and hard rock mining.

Mining Engineer

A mining engineer is a professional who applies engineering principles to the extraction of minerals from the earth, focusing on safe and efficient mining practices.

Technological Prowess

The ability or expertise to create and innovate with advanced technology, often leading to significant developments, efficiencies, or competitive advantages in various fields such as industry, science, and military.