In Evaluating the Degree of Economic Efficiency in a Market

question 88

Multiple Choice

In evaluating the degree of economic efficiency in a market, we can state that the size of the deadweight loss in a market will be smaller

• A)the greater the difference between marginal cost and price.
• B)the smaller the difference between marginal cost and average total cost.
• C)the smaller the difference between marginal cost and price.
• D)the greater the difference between marginal cost and average revenue.

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Definitions:

Epigenetics

The examination of changes in how genes are activated or expressed that are passed down between generations, which do not result from alterations in the DNA sequence itself.

Gene Expression

The biological process by which the information in a gene is used to synthesize functional gene products, such as proteins, influencing an organism's structure and function.

Environmental Influences

Environmental influences encompass all the external physical and social conditions affecting the growth, development, and behavior of individuals.

DNA Change

An alteration in the genetic material of an organism, which can occur naturally through mutations or be induced by external factors.