An efficient producer will keep increasing production until:
A)total benefit equals total cost.
B)minimum average cost has been reached.
C)maximum benefit equals maximum cost.
D)price equals marginal cost.

Question

Quizplus · Accepted Answer

An efficient producer will increase production until the price of the product equals the marginal cost of producing one more unit. This is because, at this point, the cost of producing an additional unit equals the revenue gained from selling it, maximizing profit.

An Efficient Producer Will Keep Increasing Production Until