When a firm is producing the quantity where the price is equal to the marginal cost of producing additional goods, it is known as: productive...

When a firm is producing the quantity where the price is equal to the marginal cost of producing additional goods, it is known as:

productive efficiency.

perfect competition.

allocative efficiency.

Pete produces wheat in a purely competitive market. The market's demand curve is a:

horizontal line.

upsloping line

vertical line.

downward sloping line.