Productive Efficiency for an Individual Firm Requires That

question 55

Multiple Choice

Productive efficiency for an individual firm requires that

• A)all resources be fully used.
• B)MC = P for all goods.
• C)the firm be on its LRAC curve.
• D)the firm be allocatively efficient.
• E)P = ATC for all goods.

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Definitions:

Self-Determination

The understanding of skills, knowledge, and strengths that enable a person to make choices and initiate work tasks.

Intrinsic Motivation

Motivation that is driven by an interest or enjoyment in the task itself, rather than external pressures or rewards.

Need for Competence

The desire to interact effectively with the environment, to master tasks, and to achieve proficiency.

Need for Achievement

A psychological trait that drives an individual to pursue and attain goals.