Multiple Choice
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
Correct Answer:
Verified
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