If the Total Output of Some Industry Is Allocated Among

question 75

Multiple Choice

If the total output of some industry is allocated among its individual firms in such a way that the total cost of producing the industry's output is minimized,we know the industry has achieved
1) full employment of resources;
2) productive efficiency;
3) allocative efficiency.

• A)1 only
• B)2 only
• C)3 only
• D)both 1 and 3
• E)both 2 and 3

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Definitions:

Butterfly system

A type of intravenous needle or system known for its small, winged design, allowing for easier, more stable access to veins.

Small veins

Blood vessels that carry blood toward the heart from the tissues; smaller than arteries and larger than capillaries.

Fragile veins

Veins that are easily damaged or bruised, often posing a challenge for medical procedures such as blood draws or IV insertions.

Automatic puncturing device

A tool designed to automatically puncture or penetrate the skin for purposes such as drawing blood or administering medication.