An Efficient Allocation of Resources Requires That a Product's Price

question 22

True/False

An efficient allocation of resources requires that a product's price equal its average cost.

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Definitions:

Budget Time

The process of allocating certain amounts of time towards specific activities or tasks to manage one's schedule effectively.

Write Concisely

The skill of expressing ideas with clarity and brevity, avoiding unnecessary words or details.

Sentence Structure

The arrangement of words, phrases, and clauses in a sentence to convey clear and effective meaning.

Faulty Cause

A logical fallacy where a cause is incorrectly identified for an effect because the real cause is either unknown or overlooked.