If Productive Efficiency Characterises a Market

question 145

Multiple Choice

If productive efficiency characterises a market,

• A)the marginal cost of production is minimised.
• B)firms produce the goods that consumers desire most.
• C)the output is being produced at the lowest possible cost.
• D)firms use the best technology available to produce the good.

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Definitions:

Seed Coat

The protective outer layer of a seed that encases and protects the embryo.

Modified Stem

A stem of a plant that has undergone structural changes to perform functions other than support and conduction of nutrients, such as storage or photosynthesis.

Fleshy Storage Leaves

Leaves that are modified to store nutrients and water, typically thicker and more succulent than ordinary leaves.

Male Gametophyte

The haploid stage in the life cycle of plants that produces sperm cells for fertilization.