What Is Maximised in a Competitive Market When Marginal Benefit

question 171

Multiple Choice

What is maximised 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:

Job Rotation

A practice where employees are moved between different jobs or tasks at a company to gain a variety of skills and reduce monotony.

Capabilities

The qualities, skills, and abilities that enable an individual or organization to perform effectively.

Training Device

Tools or systems used to facilitate learning and skill development in an organizational setting.

Mentoring

A personal development relationship in which a more experienced or knowledgeable person helps to guide a less experienced or knowledgeable person.