Resources are efficiently allocated when production occurs at the point at which _____
A) the marginal cost curve intersects the average variable cost curve.
B) price is equal to average revenue.
C) price is equal to marginal cost.
D) the marginal revenue curve intersects the average variable cost curve.
E) price is equal to average variable cost.
Correct Answer:
Verified
Q1: An industry consists of all firms that
Q10: A firm that minimizes average cost will
Q32: If a perfectly competitive firm raises its
Q173: If,at the equilibrium quantity in a market,the
Q174: Allocative efficiency occurs in markets when _
A)the
Q175: Exhibit 8.13 Q176: In the short run,producer surplus equals _
A)total
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents