The Optimal Level of Output May Be Defined as That

question 18

Multiple Choice

The optimal level of output may be defined as that level of output where

• A)average benefit exceeds average cost by the greatest amount.
• B)total benefit equals total cost.
• C)marginal benefit exceeds marginal cost by the greatest amount.
• D)the marginal benefit of the last unit purchased equals its marginal cost.
• E)it is impossible to define optimal in any meaningful way.

---

Definitions:

Sand

A grain or rock fragment smaller than 2 mm and larger than 1/16 mm.

Rounded Stones

Stones with smooth edges and surfaces typically resulting from extended water or wind erosion and abrasion.

Broken Shells

Shell fragments resulting from mechanical damage or natural wear and tear.

Rock Type

Classification of rocks based on their physical and chemical composition, frequently categorized into igneous, sedimentary, and metamorphic.