At the Market Equilibrium,resources Are Allocated Efficiently Because

question 2

Multiple Choice

At the market equilibrium,resources are allocated efficiently because

• A) the marginal cost of producing another unit is equal to zero.
• B) the price buyers pay accurately reflects the marginal cost of the resources used to produce the good.
• C) the price buyers pay is greater than sellers' willingness to sell.
• D) all of the above

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Definitions:

Work in Process Inventory

Work in Process Inventory consists of partially completed goods that are in the process of being manufactured but are not yet finished products.

Cost of Goods Sold

Direct expenditures involved in producing the merchandise sold by a company, comprising both material and labor costs.

Work in Process Inventory

Work in process inventory consists of items currently being manufactured but not yet complete.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including the cost of the materials and labor involved in creating the product.