Since collective consumption goods have a marginal cost of zero, the efficient price is equal to _____
a. average fixed cost
b. average variable cost
c. marginal cost
d. the market price
c
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The federal income tax on wages is the largest source of revenue for the federal government
Indicate whether the statement is true or false
Explain the relationship of the long-run aggregate supply curve, the short-run aggregate supply curve and the aggregate demand curve in determining a long-run and short-run macroeconomic equilibrium
What will be an ideal response?
For the buyer of a call option, the downside risk
A) is unlimited, but upside potential is limited. B) is limited, but upside potential is unlimited. C) and upside potential are unlimited. D) and upside potential are limited.
When market price is higher than equilibrium price, quantity demanded is ______ quantity supplied.
Fill in the blank(s) with the appropriate word(s).