In a competitive market, if production (and consumption) continues until the marginal benefit of one more unit equals marginal cost, then total surplus is maximized.
true/false
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “In a competitive market, if production (and consumption) continues until the marginal benefit of one more unit equals marginal cost, then ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Jerry was recently offered a position with a major accounting firm. The firm offered Jerry either a signing bonus of $23,000 payable on the first day of work or a signing bonus of $26,000 payable after one year of employment.
Answers (1)
Monetary neutrality is the idea that money is neutral in the -. it is a means of exchanging, tracking, and storing value, but is not a - of value.
Answers (1)
You run a small auto service shop. Your fixed expenses per week are $1,000 and your average customer invoice is $500 with an associated marginal cost of $300. What is your weekly break-even quantity?
Answers (1)
What is an Action Plan? An exercise program to increase your strength A list of goals that need to be reached to obtain a vision A list of specific steps needed to be done to reach a goal The result of a self-assessment
Answers (1)
Amanda and jack are working on their taxes and need to determine which form to file. they had wages, interest, and dividends. in addition, they bought a house this past year and are thinking of itemizing their deductions. which form should they use?
Answers (2)
New Questions in Business
McKinney Corporation had beginning retained earnings of $2,242,000 and ending retained earnings of $2,499,000. During the year they issued common stock totaling $141,000. No dividends were paid.
Answers (1)
Why might Business classification and behavior change?
Answers (1)
Which of the following statements is true of expatriate managers? a. They are managers who work abroad. b. They are managers who work in domestic firms. c. They are managers who work for the emerging economies they are a part of. d.
Answers (1)
An industry with oligopolistic competition faces falling profits and its sales growth is slow. Demand for individual brands has become quite elastic--as consumers see competing products as almost homogeneous. Several firms have dropped out.
Answers (1)
Ros Corporation's flexible budget cost formula for indirect materials, a variable cost, is $0.90 per unit of output.
Answers (1)