An Economy Will Be Allocatively Efficient If

question 23

Multiple Choice

An economy will be allocatively efficient if

• A)marginal cost equals price for all goods.
• B)the economy's resources are fully employed.
• C)imperfectly competitive markets are regulated.
• D)the marginal costs of all firms in an industry are equal.
• E)least- cost production techniques are employed by all firms.

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Definitions:

Echolalia

The involuntary repetition of another person's spoken words, often associated with autism and other communication disorders.

Symbolic Play

A type of play in which children use objects, actions, or ideas to represent other objects, actions, or ideas.

Routine and Rituals

Established sequences of actions regularly followed; rituals often carry symbolic meaning and are practiced to establish order, tradition, or cultural significance.

Cognitive-Behavioral Therapy

A form of psychotherapy that treats problems by modifying dysfunctional emotions, behaviors, and thoughts.