The figure above shows the costs and benefits associated with producing paper. What is the unregulated competitive market level of output?
A) 0
B) 4 tons
C) 6 tons
D) More than 6 tons
E) None of the above answers is correct.
C
Economics
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The output at which average product is a maximum is the same output at which ________ is a minimum
A) average fixed cost B) average variable cost C) average total cost D) marginal cost
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Resources are
A) unlimited. B) able to be replicated in large quantities. C) what people would buy if their income was unlimited. D) used to produce goods and services to satisfy people's wants.
Economics