If Productive Efficiency Characterises a Market

question 145

Multiple Choice

If productive efficiency characterises a market,

• A)the marginal cost of production is minimised.
• B)firms produce the goods that consumers desire most.
• C)the output is being produced at the lowest possible cost.
• D)firms use the best technology available to produce the good.

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Definitions:

Chinese Exclusion Act

A U.S. federal law signed in 1882 that prohibited the immigration of Chinese laborers for ten years, the first law implementing immigration controls based on ethnicity.

Nations

Large groups of people united by common descent, history, culture, or language inhabiting a particular country or territory.

Chinese Immigrants

Individuals from China who have migrated to various parts of the world, often facing significant challenges and discrimination, especially noted in the 19th and early 20th centuries in the United States.

Persecutions

Systematic mistreatment of an individual or group by another group, often due to political, religious, or ethnic differences.