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Vinil7 [7]
3 years ago
10

Allocative efficiency occurs when goods and services are produced and sold to consumers not only at _____, but at minimum averag

e total cost. Please choose the correct answer from the following choices.
a. short-run average variable cost
b. long-run average variable cost
c. variable cost
d. marginal cost

Business
1 answer:
zaharov [31]3 years ago
4 0

Answer:

D

Explanation:

Allocative efficiency occurs when industries in the long-run:

1. Sell at an equilibrium price that is equal to the marginal cost (P*=MC)

2. And simultaneously they minimize average total costs (the minimum point of the red curve ). This is what happens in the long-run in a perfect competitive market.

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8 0
1 year ago
Why did the artist, Pablo Picasso, become wealthy during his lifetime and the artist, Vincent van Gogh, remain poor his entire l
Harman [31]

<u>The reason that Pablo Picasso, become wealthy during his lifetime and the artist, Vincent van Gogh, remain poor his entire life:</u>

Pablo Picasso and Vincent van Gogh had more features in common. They had unanimously indistinct style of arts which had become immediately identifiable.

In spite of all that, Picasso died as a rich man owning an estate which is estimated at nearly 750 million dollar whereas Van Gogh died as a pauper.

Studies claim that the reason behind this would be that, Van Gogh remained to be a loner and socially inactive. He was depending on his brother to meet the social world and in contrast Picasso was a charismatic active member in various social clubs where her had multiple number of contacts and connections.

It's been said that Pablo Picasso was a hub who had a vast network of social lines and Vincent Van Gogh was a silent or solitary node.

But now, the paintings of both the greatest artists were well spoken and sell for more than 100,000,000 US Dollars.

5 0
3 years ago
What key factor kept the copernican theory from being widely accepted at first?
Amiraneli [1.4K]
The key factor that kept the Copernican is that Roman Catholic Church had decided that earth was the center of the universe and contrary opinions were heresy. The Copernican also proposed that a heliocentric system had decided the the Earth is the center of the universe and all of the contrary opinions regarding this was false.
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3 years ago
Question 6. (10 marks)
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8 0
3 years ago
Cash outflows for McKinney Publishing in 2020 included:________. $347,000 in salaries to authors. $180,000 in fees to contracted
Marat540 [252]

Answer: $527,000

Explanation:

Salaries to authors = $347,000

Fees to contracted editors = $180,000

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= Salaries to authors + Fees to contracted editors

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= $527,000

4 0
3 years ago
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