Assume That Society Places a Higher Value on the Last

question 102

Multiple Choice

Assume that society places a higher value on the last unit of X produced than the value of the resources used to produce that unit. With no spillovers, this information means that

• A) total cost is greater than total revenue.
• B) price is greater than marginal cost.
• C) marginal cost is greater than price.
• D) resources are being overallocated to X.

---

Definitions:

Temporary Work

Employment that is limited in duration, often to fulfill short-term needs of the hiring organization.

Title VII

A section of the Civil Rights Act of 1964 that bans job discrimination due to an individual's race, color, religion, gender, or country of origin.

Class Action

A lawsuit filed or defended by an individual or small group acting on behalf of a large group.

Company-Wide Policy

Guidelines and rules established by a business that apply to all employees and operations across the entire organization.