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11 Dec 2019
Consider Marginal Cost and Price, and choose the best statement.
a. The price of one more unit of a good or service is its marginal cost.
b. The marginal cost of producing one more unit of a good or service is equal to the marginal benefit.
c. The cost of producing one more unit of a good or service is its marginal cost and we measure the marginal cost as the area above the supply curve and below the market price.
d. The cost of producing one more unit of a good or service is its marginal cost, which is the minimum price that producers must receive to induce them to offer to sell another unit of the good or service.
Consider Marginal Cost and Price, and choose the best statement.
a. The price of one more unit of a good or service is its marginal cost.
b. The marginal cost of producing one more unit of a good or service is equal to the marginal benefit.
c. The cost of producing one more unit of a good or service is its marginal cost and we measure the marginal cost as the area above the supply curve and below the market price.
d. The cost of producing one more unit of a good or service is its marginal cost, which is the minimum price that producers must receive to induce them to offer to sell another unit of the good or service.
Sonia DhawanLv10
28 Aug 2020
