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

Question

Quizplus · Accepted Answer

In a perfectly competitive market, the marginal unit of a good or service is the one that equates the marginal cost of production with the market price. The person who ends up with this unit values it exactly at its price, as it represents the point where the supply and demand curves intersect, determining the equilibrium price.

Under Perfect Competition the Person That Ends Up with the ________