A firm's long-run position under perfect competition is often said to be efficient because

Which of the following statements is true of marginal analysis?

A) Marginal analysis is a tool used in optimization in levels. B) Marginal analysis compares the consequences of doing one more step of something. C) Marginal analysis of alternatives will mostly give an outcome different from optimization in levels. D) Marginal analysis involves the calculation of total net benefits of all the available alternatives.

If a graph has a line that shows the quantity of flat-screen televisions sold in the last five years, it is known as

A) a pie chart. B) a demand curve for outsourcing. C) a time-series graph. D) a supply curve of outsourcing.