Multiple Choice
In order for the price system to have satisfied the exacting requirements for efficiency,
A) MU must equal MC for each and every commodity.
B) the average cost of producing each good must be equal to its MU.
C) the maximum possible of total economic profit must be produced.
D) every consumer's MU will be equal to marginal physical product.
Correct Answer:
Verified
Correct Answer:
Verified
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