Match the Following Terms with Their Descriptions

question 2

Essay

Match the following terms with their descriptions:
I. Group footer
II. Group header
III. Page footer
IV. Page header
V. Section
A. Displays at the top of each unique group value
B. Displays at the top of each page
C. Can be manipulated independently of other areas
D. Displays at the bottom of each page
E. Displays at the bottom of each unique group value

---

Definitions:

Output Level

The quantity of goods or services produced by a business within a given period.

Allocative Efficiency

A state of the economy in which production represents consumer preferences; in other words, every good or service is produced up to the point where the last unit provides a marginal benefit to consumers equal to the marginal cost of producing it.

Long-Run

A period of time in economics during which all factors of production and costs are variable, allowing for complete adjustment to changes.

Average Total Cost

The sum of average variable costs and average fixed costs, or simply the total cost divided by the quantity of output produced.