What Is Implied If P = MC > AC

question 66

Multiple Choice

What is implied if P = MC > AC?

• A)The market is achieving productive efficiency but is not achieving allocative efficiency.
• B)The market is achieving allocative efficiency but is not achieving productive efficiency.
• C)The market is achieving neither productive efficiency nor allocative efficiency.
• D)The market is achieving both allocative efficiency and productive efficiency.

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Definitions:

Endosteum

A thin membrane lining the inner surface of the bony tissue that forms the medullary cavity of long bones.

Spongy Bone

A porous type of bone found at the ends of long bones and inside vertebrae, lightening the skeleton's weight and making room for bone marrow.

Osteon's Lacunae

Small spaces within the osteon of bones that house osteocytes, the cells responsible for maintaining bone tissue.

Osteocytes

Bone cells integral to the structure and function of bone, acting as strain sensors.