In the long run, in a competitive economy, companies use resources until the extra or marginal production costs are: 1. Less than the price of the product 2. Greater than the price of the product 3. Equal to the price of the product 4. Equal to your earnings
In the long run, in a competitive economy, companies use resources until the extra or marginal production costs are: 1. Less than the price of the product 2. Greater than the price of the product 3. Equal to the price of the product 4. Equal to your earnings
Chapter22: Supply: The Costs Of Doing Business
Section: Chapter Questions
Problem 5E
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In the long run, in a competitive economy, companies use resources until the extra or marginal production costs are:
1. Less than the price of the product
2. Greater than the price of the product
3. Equal to the price of the product
4. Equal to your earnings
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