Which statement best describes relationship between competition and a free market economy

Atlas manufacturing produces a unique valve, and has the capacity to produce 50,000 valves annually. currently atlas produces 40,000 valves and is thinking about increasing production to 45,000 valves next year. what is the most likely behavior of total manufacturing costs and unit manufacturing costs given this change? a. total manufacturing costs will increase and unit manufacturing costs will also increase. b. total manufacturing costs will stay the same and unit manufacturing costs will stay the same. c. total manufacturing costs will increase and unit manufacturing costs will decrease. d. total manufacturing costs will increase and unit manufacturing costs will stay the same.

Why is efficiency an important economic goal?

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided