_________ occurs when a good or service is produced at the lowest possible cost. (A) Voluntary exchange (B) Allocative efficiency (C) Productive efficiency

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• A customer has requested that Lewelling Corporation fill a special order for 9,000 units of product S47 at $20.50 each. The standard unit cost for product S47 is $14.40, broken down as follows: direct materials $3.10, direct labor $1.50, variable manufacturing overhead $6.40, and fixed manufacturing overhead $3.40. Direct labor is a variable cost. The special order will not affect the company's total fixed manufacturing overhead costs. The customer's requested modifications to product S47 will add $5.00 to the variable costs per unit and necessitate a $36,000 investment in special molds with no salvage value. The special order will not impact other sales, and the company has sufficient capacity to produce the order. Therefore, the annual financial impact of accepting this special order should be calculated as follows.
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• The dry cleaning industry is in monopolistic competition. In the short​ run, the​ profit-maximizing price is​ $10 per item and the average total cost is​ $6 per item. In​ long-run equilibrium, the​ profit-maximizing price is​ $8 per item. In​ long-run equilibrium, what is the economic profit of a firm in the dry cleaning​ industry? In​ long-run equilibrium, the dry cleaning firm makes ​$ nothing economic profit.