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Posts: 240
A month 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

Edition: 8th
Authors:
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A month ago
equals
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A month ago
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