Resources are efficiently allocated when production occurs at that output level where price:
A. is greater than marginal revenue.
B. equals marginal revenue.
C. is equal to average variable cost.
D. equals marginal cost.
Answer: D
You might also like to view...
What is the extent of income inequality among nations? Explain, citing relevant data on incomes received by populations and total GDP in the United States and developing nations.
What will be an ideal response?
In the late 1920s, you could buy $10,000 worth of stock by putting down as little as
A. $100. B. $1,000. C. $2,500. D. $5,000.
Which of the following products may have a free-rider problem?
A) On-the-job training programs B) Environmental protection programs C) Movie DVDs D) Mobile phones
The Fed has the least degree of discretion and the least to do under a policy rule setting
A) the growth rate of money. B) the growth rate of high-powered money. C) the Federal funds rate. D) nominal GDP.