The Optimal Level of Output May Be Defined as That

question 14

Multiple Choice

The optimal level of output may be defined as that level of output where

• A) average benefit exceeds average cost by the greatest amount.
• B) total benefit equals total cost.
• C) marginal benefit exceeds marginal cost by the greatest amount.
• D) the marginal benefit of the last unit purchased equals its marginal cost.
• E) it is impossible to define optimal in any meaningful way.

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Definitions:

Marital

Pertaining to marriage or the married state.

Elder Persons

Refers to older adults or seniors, typically individuals who are aged 65 years and older, often with specific social, health, and economic needs.

Elder Abusers

Individuals who commit physical, emotional, financial, or sexual harm against older adults.

Institutional Caregivers

Professionals who provide care within institutions like hospitals, nursing homes, or residential care facilities.