The optimal level of output may be defined as that level of output where
A) average benefit exceeds average cost by the greatest amount.
B) total benefit equals total cost.
C) marginal benefit exceeds marginal cost by the greatest amount.
D) the marginal benefit of the last unit purchased equals its marginal cost.
E) it is impossible to define optimal in any meaningful way.
Correct Answer:
Verified
Q2: Approximately what percentage of total health care
Q3: What measures would likely lower infant mortality
Q4: A person with AIDS applies for health
Q5: Which of the following results from patients
Q6: If a hospital is experiencing economies of
Q8: Which of the following might cause a
Q9: In which of the following countries would
Q10: The concept deadweight loss refers to
A)lost profit
Q11: Inoculation programs against certain diseases such as
Q12: Which of the following is not a
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