The Most Efficient Level of Output for a Perfect Competitor

question 226

Multiple Choice

The most efficient level of output for a perfect competitor

• A)is greater in the short run than the long run.
• B)occurs when average costs are rising.
• C)is not necessarily good news for the consumer.
• D)in the long run is also the cheapest level of output.

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Definitions:

Relief Carving

A sculptural technique where the sculpted elements remain attached to a solid background of the same material.

Stained Glass

Colored glass pieces assembled into patterns or pictures, often used in windows, to control light and enhance the beauty of buildings, especially in churches.

Tapestry

A weaving technique in which the weft threads are packed densely over the warp threads so that the designs are woven directly into the fabric.

Cross-Hatching

A drawing technique used to create shading and texture, consisting of intersecting sets of parallel lines.