If there are many producers, each of whom has an individual production possibility curve, then the lowest marginal cost producer of good X is the producer:

A. Who must sacrifice fewer units of every other goods than any other producer

B. Who can produce more X per hour than any other producer

C. Who must sacrifice more units of every other goods than any other producer

D. None of the above

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. In real life, brand loyalty is a barrier to:
  2. A demand curve is not related to:
  3. Monopoly means:
  4. Who finalized the model of imperfect competition?
  5. In Edgeworth model, price remains:
  6. Marginal utility is only meant for:
  7. Under Bandwagon effects, people use those goods which are used by their:
  8. Which of the following theories of trade cycle was presented by William Jevons?
  9. By saying that monopolist create a contrived scarcity, economist mean that monopolist:
  10. Consumers Surplus can also be defined as:
  11. AR curve under perfect competition:
  12. The utility function u = f(x) is based upon :
  13. The economic problem of determining the combination of inputs yielding lowest cost for producing a given…
  14. If Cobb-Douglas production function is homogeneous of degree greater than one (n>1), then it shows:
  15. Which of the following is not an explicit cost of production?
  16. Opportunity costs are also known as:
  17. In monopolistic competition, the firms have to face:
  18. Price elasticity of demand can be measured in the following way:
  19. In the long run:
  20. Nash equilibrium says:
  21. The short-run supply curve of the perfectly competitive firm is given by:
  22. Marginal cost is found with the help of changes in:
  23. Who first used the term Quasi-Rent?
  24. Marginal cost is the cost:
  25. Income -elasticity of demand will be zero when a given change in income brings about:
  26. The law of demand is most directly a result of:
  27. Which of the following conditions is met in the long-run equilibrium in monopolistic competition, where…
  28. Equilibrium of a discriminating monopolist requires the fulfillment of which one of the following conditions?
  29. Elasticity (E) expressed by the term, 8 >E>1, is:
  30. In short run, a firm can change its: