At the output level corresponding to the efficient quantity of a good,
A)the value of the last unit can be negative for some consumer
B)the value of the last unit to some consumer equals the minimum price some seller must receive for producing it
C)the distribution of the good is fair
D)the minimum price some consumer must pay for the last unit equals the value of the unit to some producer
E)the price is the lowest that a typical firm would ever be willing to accept

Question

Quizplus · Accepted Answer

At the efficient quantity, the value of the last unit to some consumer equals the minimum price some seller must receive, reflecting the equilibrium where marginal benefit equals marginal cost.

At the Output Level Corresponding to the Efficient Quantity of a Good