Under Perfect Competition, the Person That Ends Up with the Marginal

question 167

Multiple Choice

Under perfect competition, the person that ends up with the marginal unit is the person that values it

• A) at an amount above its price.
• B) at an amount lower than its price.
• C) exactly at its price.
• D) above its marginal cost.

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Definitions:

Objection

A statement of disagreement or challenge to a particular claim or argument.

Ad Hominem

A logical fallacy where an argument is rebutted by attacking the character, motive, or other attributes of the person making the argument, rather than addressing the substance of the argument itself.

Smoking

The act of inhaling and exhaling the smoke of tobacco or other substances, typically linked to various health risks.

Dangerous

Involving potential harm or risk; likely to cause damage or injury.