Which of the Following Is True

question 241

Multiple Choice

Which of the following is true?
i.Production efficiency occurs only when resources are used to produce the combination of goods that has the greatest value.
ii.Allocative efficiency occurs when marginal benefit equals marginal cost.
iii.A demand curve is a marginal cost curve.

• A) Only ii
• B) Only i
• C) Only iii
• D) i and ii
• E) ii and iii

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Definitions:

Access

A database management system from Microsoft that combines the relational Microsoft Jet Database Engine with a graphical user interface and software-development tools.

Validation Rule Expression

A formula or criterion that a data entry must comply with to be accepted by a system or application.

Currency Value

The numerical value assigned to a currency, which can fluctuate based on economic factors and is critical in financial transactions.

Price Field

A column in a database or software application where the price of an item or service is recorded.