Resource Allocative Efficiency Occurs When a Firm

Multiple Choice

Resource allocative efficiency occurs when a firm

A) minimizes costs of production yet charges the highest possible price.
B) produces the quantity of output at which price exceeds average total cost by the greatest amount.
C) produces the quantity of output at which price equals marginal cost.
D) produces the quantity of output at which price equals average total cost.
E) produces the quantity of output at which price equals average variable cost.