Perfectly Competitive Firms Produce Up to the Point Where the Price

question 96

Multiple Choice

Perfectly competitive firms produce up to the point where the price of the good equals the marginal cost of producing the last unit.This condition is referred to as

• A)productive efficiency.
• B)constant returns to scale.
• C)allocative efficiency.
• D)perfectly competitive efficiency.

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Definitions:

Human Resource Planning

The strategic process by which an organization assesses its current and future workforce needs based on its goals and objectives to ensure the right people are in the right place at the right time.