Asked by
Ñëñwå Shämõüñ
on Nov 05, 2024
Verified
Under perfect competition the person that ends up with the ________ unit is the person that values it exactly at its price.
A) first
B) last
C) marginal
D) only
Marginal Unit
Refers to the additional or incremental unit of a good or service considered in analysis or decision-making.
Perfect Competition
A market structure characterized by many buyers and sellers, free entry and exit, and a homogeneous product, leading to price-taking behavior.
- Acquire knowledge of the key principles underlying perfect competition and its consequences for effective production and resource distribution.
Verified Answer
FK
Learning Objectives
- Acquire knowledge of the key principles underlying perfect competition and its consequences for effective production and resource distribution.