-Refer to Figure 7-11

question 102

Multiple Choice

-Refer to Figure 7-11. The minimum efficient scale of output is reached at what rate of output?

• A) 10 000 workers
• B) 5000 picture frames
• C) 20 000 picture frames
• D) 10 000 picture frames

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Definitions:

Pesticides Resistant

The ability of pests to withstand or overcome the effects of pesticides due to genetic mutations or adaptations, leading to a decrease in the effectiveness of the pesticides.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where the quantity supplied equals the quantity demanded.

Demand

The desire and ability of consumers to purchase goods or services at a given price.

Supply

The total amount of a specific good or service that is available to consumers in a market at a given time and price.