Resources Are Efficiently Allocated When Production Occurs at That Point

question 64

Multiple Choice

Resources are efficiently allocated when production occurs at that point at which:​

• A)the marginal cost curve intersects the average variable cost curve.
• B)price is equal to average revenue.
• C)price is equal to marginal cost.
• D)the marginal revenue curve intersects the average variable cost curve.
• E)price is equal to average variable cost.

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Definitions:

Q-Sort Technique

A method used in psychology to assess and sort a variety of subjective content, typically involving the ranking of statements or items according to specific criteria.

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The process of measuring personality traits and characteristics, typically through standardized tests or surveys.

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Refers to methods or approaches that are impractical or not based on reality, often involving wishful thinking rather than practical solutions.

Defenses

Psychological strategies used unconsciously to protect oneself from anxiety or discomfort.