If the Total Output of Some Industry Is Allocated Among

question 31

Multiple Choice

If the total output of some industry is allocated among its individual firms in such a way that the total cost of producing the industry's output is minimized, the industry will achieve
1) full employment of resources;
2) productive efficiency;
3) allocative efficiency.

• A) 1 only
• B) 2 only
• C) 3 only
• D) both 1 and 3
• E) both 2 and 3

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Definitions:

Stent

A tubular support device implanted in a blood vessel, canal, or duct to prevent or counteract a disease-induced localized flow constriction.

Coronary Artery

Blood vessels that supply blood to the heart muscle, critical for providing the necessary oxygen and nutrients.

Balloon Catheter

A medical device consisting of a thin tube and an inflatable balloon that is used to open up blocked or narrowed blood vessels.

Transient Ischemic Attack

Temporary interruption of blood flow in the brain caused by small clots closing off blood vessels, may also be referred to as a TIA.