Multiple Choice
If,at the equilibrium quantity in a market,the benefit of the last unit produced just equals its marginal cost,_____
A) each firm earns a positive economic profit.
B) the market is said to have achieved productive efficiency.
C) the market is said to have achieved allocative efficiency.
D) the firms in the market are said to have achieved economies of scale.
E) each firm in the market incurs an economic loss.
Correct Answer:

Verified
Correct Answer:
Verified
Q160: Consumers benefit from market exchange when the
Q161: Firms that ignore the profit maximization strategy
Q162: Exhibit 8.7<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1208/.jpg" alt="Exhibit 8.7
Q163: Table 8.5<br> <span class="ql-formula" data-value="\begin{array}
Q164: If a firm is producing at an
Q166: The golden rule of profit maximization states
Q167: Table 8.4<br> <span class="ql-formula" data-value="\begin{array}{cc}\begin{array}{c}\text
Q168: Suppose the market for hot pretzels in
Q169: Table 8.3<br> <span class="ql-formula" data-value="\begin{array}{cc}\begin{array}{c}\text
Q170: The long-run market supply curve for an