Resources are efficiently allocated when production occurs at that output level where price Multiple Choice is equal to average total cost. equals marginal cost. equals marginal revenue. is greatest over average cost.

Overspeculation and a decrease in consumer confidence are both leading factors of: ?

Wallis company manufactures only one product and uses a standard cost system. the company uses a predetermined plantwide overhead rate that relies on direct labor-hours as the allocation base. all of the company's manufacturing overhead costs are fixed—it does not incur any variable manufacturing overhead costs. the predetermined overhead rate is based on a cost formula that estimated $2,886,000 of fixed manufacturing overhead for an estimated allocation base of 288,600 direct labor-hours. wallis does not maintain any beginning or ending work in process inventory.

An instance where sellers should work to keep relationships with customers is when they instance where selllars should work to keep relationships with customers is when they feel that the product