At a particular level of output, the difference between average total cost and average fixed cost is average variable cost.

Adam Smith argued that a nation would be wealthier if it engaged in

a. fraud b. free trade c. theft of other nations resources d. genocide

The table above represents the marginal cost and marginal benefit associated with pizza (in terms of movies). What quantity of pizza should be produced if resources are to be used efficiently?

A) 5 pizzas B) 6 pizzas C) 7 pizzas D) 8 pizzas