Marginal utility qns ans - Study guides, Class notes & Summaries

MARGINAL COST, MARGINAL BENEFITS & MARGINAL UTILITY STUDY GUIDE WITH PRACTICE QUESTIONS AND ANSWERS NEW GENERATION When are the profits of a producer maximized? When marginal cost equals marginal benefit What is another term for net benefit to a producer? Economic profit What is most likely to happen to the allocation of resources in a market when both consumers and producers in the market have well-defined property right? The allocation of resources will be efficient. The market for ap...