Marginal cost pricing in competitive markets results in which one of the following? A. The last unit produced in each market costs society exactly what the last customer to purchase the good values the good at. B. Invisible hand wides the free market to produce what is best for SOciety. C. Free markets produce an efficient mix of goods and services. D*. All of the above

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Factors of Production

Factors of production – in simple words means the factors that are used for producing any product or service. This includes the resources which are necessary for the manufacturing of products. Factors of production are also known as the building blocks of the economy.