A Producer's Minimum Acceptable Price for a Particular Unit of a Good

question 58

Multiple Choice

A producer's minimum acceptable price for a particular unit of a good

• A) is the same for all units of the good.
• B) will, for most units produced, equal the maximum that consumers are willing to pay for the good.
• C) equals the marginal cost of producing that particular unit.
• D) must cover the wages, rent, and interest payments necessary to produce the good but need not include profit.

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Definitions:

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A government-sponsored insurance program in the United States for individuals and families with low income and resources.