Which of the Following Statements Is True

question 81

Multiple Choice

Which of the following statements is true?

• A)A perfectly competitive firm that seeks to maximize profits will not be resource-allocative efficient.
• B)If the demand curve and the marginal revenue curve weren't the same curve for a perfectly competitive firm, then the firm would not be resource-allocative efficient.
• C)Resource allocative efficiency exists when a firm produces its output at the lowest possible per unit cost (lowest ATC).
• D)Productive efficiency exists when firms produce the quantity of output at which price equals marginal cost.
• E)c and d

---

Definitions:

Confidence Interval

A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter at a given level of confidence.

Gross Revenue

The total amount of money earned by a company from its sales or services before any costs or expenses are subtracted.

Big-Name Stars

Highly famous or well-recognized celebrities, usually drawing significant public attention.

Skin Discolorations

Changes in the color of the skin that can result from a wide range of conditions, including infections, allergic reactions, and underlying diseases.