If a Perfectly Competitive Firm Achieves Productive Efficiency Then

question 232

Multiple Choice

If a perfectly competitive firm achieves productive efficiency then

• A)it will raise its price in order to earn an economic profit.
• B)the price of the good it sells is equal to the benefit consumers receive from consuming the last unit of the good sold.
• C)it is producing at minimum efficient scale.
• D)it is producing the good it sells at the lowest possible cost.

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Engagements and actions, often undertaken by children, that are driven by curiosity and imagination, primarily for enjoyment and leisure.

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A state of having insufficient financial resources to meet basic living expenses such as food, shelter, and clothing.

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Consonant Sounds

Sounds in spoken language that are produced by partially or completely blockage of the airflow in the vocal tract, which distinguishes them from vowel sounds.