An Economy Will Be Allocatively Efficient If

question 97

Multiple Choice

An economy will be allocatively efficient if

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

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Definitions:

Deductive

Deductive reasoning involves drawing specific conclusions from general premises or facts, using a top-down approach.

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An organizational culture characterized by flexibility, employee empowerment, and an emphasis on innovation and problem-solving in an informal manner.

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The act of making false and damaging statements about someone verbally.

Organizational Culture

The set of shared attitudes, values, goals, and practices that characterizes an institution or organization, shaping its environment and work ethic.