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Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950 Exercise 4
Producing a quantity larger than the equilibrium of supply and demand is inefficient because the marginal buyer's willingness to pay is
A) negative.
B) zero.
C) positive but less than the marginal seller's cost.
D) positive and greater than the marginal seller's cost.
A) negative.
B) zero.
C) positive but less than the marginal seller's cost.
D) positive and greater than the marginal seller's cost.
Explanation
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If a seller produces a good and its quan...
Essentials of Economics 7th Edition by Gregory Mankiw
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