Which of the following is true?
i.Marginal cost is measured by the maximum price that consumers are willing to pay for another unit of a good or service.
ii.Producer surplus equals marginal benefit minus price,summed over the quantity produced.
iii.A supply curve is a marginal cost curve.
A) Only iii
B) Only i
C) Only ii
D) i and ii
E) i and iii

Question

Quizplus · Accepted Answer

A supply curve represents the marginal cost of producing additional units, as it shows the minimum price producers are willing to accept for each additional unit.

Which of the Following Is True