For producers, the willingness to sell is equivalent to the marginal cost of the product.

Name: For producers, the willingness to sell is equivalent to the marginal cost of the product.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Producers are willing to sell their product as long as the price they receive covers at least their marginal cost of production. If the price is greater than the marginal cost, then they will continue to produce and sell more, as the additional revenue will generate more profit for them.

For Producers, the Willingness to Sell Is Equivalent to the Marginal