If a Market Is Productively Efficient

question 26

Multiple Choice

If a market is productively efficient,

• A)the output is being produced at the lowest possible resource cost
• B)the output is selling for the lowest possible price
• C)economic profit in the market is positive
• D)the output being produced is what consumers want
• E)no firm can earn a normal profit

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Definitions:

Magnetite

A magnetic mineral form of iron oxide, often used as an iron ore or in magnetic applications.

Hematite

An iron oxide mineral, often reddish-brown, used as an ore of iron and in various industrial and artistic applications.

Project Oxygen

An initiative by Google to identify the key behaviors of its most effective managers, aiming to improve management practices and organizational success.

PiLab Project

Not a widely recognized key term, so NO.