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2 For the following questions, select the key term that best matches with the definition provided. - Allocating resources (or consumption expenditures) in different possible
2 For the following questions, select the key term that best matches with the definition provided. - Allocating resources (or consumption expenditures) in different possible uses so as to maximize net economic benefits (or satisfaction) - Return in excess of opportunity cost - A situation in which each of the firm's resources is earning a return just equal to its opportunity cost - A buyer or seller in an imperfectly competitive market structure who has market power and can determine the price or quantity sold A. Economic efficiency B. Economic rent C. Price searcher D. Normal profits
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