Which of these will hold true for an unregulated,competitive industry?

Question

Quizplus · Accepted Answer

In an unregulated, competitive industry, firms will produce additional units until the marginal cost of production equals the market price. This is because, in a competitive market, firms are price takers and adjust their output to the point where the price (which is determined by market supply and demand) equals their marginal cost of production. This condition ensures that firms are maximizing their profits, as producing more would cost more than the market is willing to pay, and producing less would mean missing out on potential profits.

Which of These Will Hold True for an Unregulated,competitive Industry