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Gideon123 Gideon123
wrote...
Posts: 524
5 years ago
A price equal to the free market equilibrium price is efficient because the willingness to pay by someone to consume an additional unit ________ the marginal cost to someone for producing that unit.

▸ exceeds

▸ equals

▸ is less than

▸ None of the above; efficiency is defined in terms of natural resources, not market equilibrium.
Textbook 
Microeconomics: Principles, Applications, and Tools

Microeconomics: Principles, Applications, and Tools


Edition: 8th
Authors:
Read 146 times
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Replies
wrote...
5 years ago
equals
Gideon123 Author
wrote...
5 years ago
Thanks
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