Multiple Choice
If a market is in equilibrium, then we know that price equals marginal cost because
A) the market demand curve reflects marginal cost.
B) marginal cost never changes.
C) the market supply curve reflects marginal cost.
D) every firm has the same costs.
E) firms are required by law to equate marginal cost to price.
Correct Answer:
Verified
Correct Answer:
Verified
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