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Question

For a price-taking firm, willingness to accept is equal to the ______.



A

marginal cost

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B

price

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C

average total cost

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D

marginal revenue

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Solution

The correct option is B

marginal cost


For a price-taking firm, willingness to accept is equal to the marginal cost. At any price less than the marginal cost, the firm will not produce an additional unit.


Micro Economics

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