If a Firm Is Producing a Given Level of Output

question 68

Multiple Choice

If a firm is producing a given level of output in an economically efficient manner, then it must be the case that

• A) this is the lowest cost method of producing that output.
• B) each input is producing its maximum marginal product.
• C) this output level is the most that can be produced with the given level of inputs.
• D) both a and c
• E) none of the above

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Definitions:

Atactic

Refers to polymers where the configuration of chiral centers is random.

Highly Branched

Refers to a molecule or polymer with numerous branches or side chains, significantly affecting its physical and chemical properties.

Amorphous

Lacking a definite shape or form; in materials science, referring to a solid that does not possess the long-range order characteristic of crystals.

Isotactic

A polymer configuration where all substituents are on the same side of the polymer chain.