Multiple Choice
An economy is operating with optimum efficiency if
A) the price of the product is greater than marginal cost.
B) the production of more of commodity A entails the production of less of commodity B.
C) marginal cost of output is greater than marginal utility of output.
D) an increase in output would result in a decrease in average cost per unit.
Correct Answer:
Verified
Correct Answer:
Verified
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