________ Is Maximized in a Competitive Market When Marginal Benefit

question 154

Multiple Choice

________ is maximized in a competitive market when marginal benefit equals marginal cost.

• A)Deadweight loss
• B)Marginal profit
• C)Economic surplus
• D)Selling price

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Definitions:

U.S.GAAP

United States Generally Accepted Accounting Principles, which are accounting standards used in the U.S. to prepare, present, and report financial statements.

Profitability

A rephrasing of profitability analysis, it refers to a company's ability to generate profit from its operations relative to its costs.

Productivity

A measure of efficiency that shows the amount of output produced per unit of input.

Liquidity

The ability of an asset to be quickly converted into cash without significant loss in value, or a company's ability to meet its short-term obligations.