An Economy Is Operating with Optimum Efficiency If

question 126

Multiple Choice

An economy is operating with optimum efficiency if

• A)the price of the product is greater than marginal cost.
• B)the production of more of commodity A entails the production of less of commodity B.
• C)marginal cost of output is greater than marginal utility of output.
• D)an increase in output would result in a decrease in average cost per unit.

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Definitions:

Islamic

Relating to the religion of Islam, its culture, or its adherents.

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The concept of achieving immortality through lasting contributions to society, remembrance by future generations, or influence on culture and ideas.

Temporal Interpretations

The understanding or analysis of events, narratives, and phenomena in the context of time, including their duration, sequence, and timing in relation to other events.

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The process or methods employed to decrease feelings of worry, tension, or fear in individuals.