Suppose That Firms a and B Each Produce High-Resolution Computer

question 157

Multiple Choice

Suppose that Firms A and B each produce high-resolution computer monitors, but Firm A can do so at a lower cost. Cassie and David each want to purchase a high-resolution computer monitor, but David is willing to pay more than Cassie. Which of the following market outcomes is efficient?

• A)Firm A produces a monitor that Cassie buys. David does not purchase a monitor.
• B)Firm A produces a monitor that David buys.
• C)Firm B produces a monitor that Cassie buys. David does not purchase a monitor.
• D)Firm B produces a monitor that David buys.

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Definitions:

Elongation

Elongation in biology refers to the lengthening of structures or molecules, such as the growth of plant roots or the process during protein synthesis where the polypeptide chain is extended.

Termination

In genetics, termination refers to the end of the process of transcription or translation, finishing the synthesis of the RNA or protein molecule.

Translation

The process by which the sequence of bases in mRNA is converted into an amino acid sequence in proteins.

Initiation

The first phase in various biological processes, such as DNA replication, transcription, and translation, where the necessary components are assembled to begin the process.