If a Market Is Allocatively Efficient,_____

question 69

Multiple Choice

If a market is allocatively efficient,_____

• A)firms produce at the minimum point of their marginal cost curve.
• B)firms produce at the minimum point of their total cost curve.
• C)consumers minimize their expenditures.
• D)total utility cannot be increased through a reallocation of resources.
• E)total output cannot be decreased through a reallocation of resources.

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Definitions:

Inflammation

A biological response of body tissues to harmful stimuli, such as pathogens, damaged cells, or irritants, characterized by redness, swelling, heat, and pain.

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A condition resulting from the lack of essential nutrients in the diet.

Essential Fatty Acid

Unsaturated fatty acids that are crucial for maintaining health, as the human body cannot synthesize them.

Eczema

A condition characterized by itchy, inflamed, and red skin caused by various factors including genetics, allergens, and environmental elements.