If,at the Equilibrium Quantity in a Market,the Benefit of the Last

question 165

Multiple Choice

If,at the equilibrium quantity in a market,the benefit of the last unit produced just equals its marginal cost,_____

• A)each firm earns a positive economic profit.
• B)the market is said to have achieved productive efficiency.
• C)the market is said to have achieved allocative efficiency.
• D)the firms in the market are said to have achieved economies of scale.
• E)each firm in the market incurs an economic loss.

---

Definitions:

Physiological Responses

automatic reactions of the body to internal or external stimuli, such as changes in heart rate, hormone levels, and muscle tension.

Expressing Emotion

The action of conveying feelings or emotions through words, gestures, facial expressions, or other behaviors.

Facial Expressions

The movements or positions of the face that convey a person's emotions, intentions, or social signals.

Eastern And Western Cultures

The distinction between the diverse cultural, philosophical, social, and artistic norms prevalent in Asia, known as Eastern, and those in Europe and the Americas, referred to as Western.