Resources Are Efficiently Allocated When Production Occurs at That Point

question 2

Multiple Choice

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

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

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Definitions:

Evolutionary Theories

A set of propositions aimed at explaining how and why certain behaviors or physical traits have developed over time through the process of natural selection.

Cannon-Bard Theory

A theory of emotion that suggests emotions and bodily changes occur simultaneously rather than sequentially, with emotional experiences resulting from the brain's interpretation of bodily responses to stimuli.

James-Lange Theory

A psychological theory suggesting that emotions result from physiological reactions to events.

Autonomic Arousal

The activation or response of the autonomic nervous system, controlling involuntary body functions and often linked to stress and emotions.