The accompanying graph shows the long-run supply and demand curves in a purely competitive market. We know that when this market reaches equilibrium, the marginal
A)cost equals marginal benefit.
B)benefit exceeds marginal cost.
C)cost exceeds marginal benefit.
D)cost equals zero.

Question

The accompanying graph shows the long-run supply and demand curves in a purely competitive market. We know that when this market reaches equilibrium, the marginal
A)cost equals marginal benefit. 
B)benefit exceeds marginal cost. 
C)cost exceeds marginal benefit. 
D)cost equals zero.

Quizplus · Accepted Answer

The Answer of  The accompanying graph shows the long-run supply and demand curves in a purely competitive market. We know that when this market reaches equilibrium, the marginal
A)cost equals marginal benefit. 
B)benefit exceeds marginal cost. 
C)cost exceeds marginal benefit. 
D)cost equals zero.

The Accompanying Graph Shows the Long-Run Supply and Demand Curves