A seller's willingness to accept is the same as his ________ cost of production.

Name: A seller's willingness to accept is the same as his ________ cost of production.
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Question

Quizplus · Accepted Answer

A seller's willingness to accept is the minimum amount they are willing to sell a good or service for. This price is determined by their marginal cost of production, which is the additional cost of producing one additional unit of output. Therefore, the correct answer is D) marginal.

A Seller's Willingness to Accept Is the Same as His