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Author Question: Which level indicates the point of maximum economic efficiency? A) lowest point on AC curve B) ... (Read 106 times)

pragya sharda

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on: Jul 1, 2018
Which level indicates the point of maximum economic efficiency?
 
  A) lowest point on AC curve
  B) lowest point on AVC curve
  C) lowest point on MC curve
  D) None of the above

Question 2

If a non-renewable resource is scarce, has constant marginal cost of production and is sold in a competitive market,
 
  A) its price will increase over time.
  B) its price will exceed marginal cost.
  C) its price will increase by the rate of interest.
  D) All of the above.


chreslie

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

D


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