Use the Following to Answer Question(s): Markets and Efficiency

Multiple Choice

Use the following to answer question(s) : Markets and Efficiency

-(Exhibit: Markets and Efficiency) The equilibrium price in Panel (a) tells us that the marginal cost of a pound of apples is:

A) less than $0.80.
B) equal to $0.80.
C) greater than $0.80.
D) equal to the average cost of producing apples.