Which of the Following Describes a Situation in Which a Good

question 54

Multiple Choice

Which of the following describes a situation in which a good or service is produced at the lowest possible cost?

• A)productive efficiency
• B)allocative efficiency
• C)marginal efficiency
• D)profit maximization

---

Definitions:

Language Development

The process by which individuals acquire the ability to perceive, produce, and use words to understand and communicate.

Discriminate Pictures

The act of differentiating images based on features, but the term itself might not accurately apply to a specific psychological or technical concept.

Concepts

Abstract ideas or general notions that exist in the mind as representations of categories or classes of objects, events, or activities.

Pigeons

Birds that are often used in research to study behavior and learning due to their ability to perform tasks and remember patterns.