Resources Are Efficiently Allocated When Production Occurs at That Point

question 2

Multiple Choice

Resources are efficiently allocated when production occurs at that point at which

• A)marginal cost intersects average variable cost
• B)price is equal to average revenue
• C)price is equal to marginal cost
• D)marginal revenue equals marginal cost
• E)price is equal to average variable cost

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Definitions:

Continuous Tasks

Tasks or processes that run continuously without interruption, often used in industrial automation to monitor and control ongoing operations.

Continuous Block

A section in programming or data storage that is allocated as a single, uninterrupted unit.

Arrays

An organized collection of data elements, typically of the same type, where each element can be accessed by an index.

Tag

A label or identifier used in programming and databasing to categorize or mark information for easier retrieval or processing.