To achieve allocative efficiency, firms a. strive to minimize ...

[Marty]

To achieve allocative efficiency, firms
 a. strive to minimize fixed costs
  b. strive to maximize profits
  c. produce at their minimum long-run average cost
  d. produce at their minimum long-run marginal cost
  e. produce the output consumers want most

Question 2

Which of the following is an example of a local monopoly as compared to a national or international monopoly?
 a. a restaurant at a rural crossroads
  b. Alcoa during the 19th century
  c. De Beers Consolidated Mines
  d. AT&T
  e. U.S. Postal Service

[Viet Thy]

Answer to Question 1

E

Answer to Question 2

A

[Marty]

Excellent

[LVPMS]

Thanks for the timely response, appreciate it