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Snezhnost [94]
2 years ago
9

The marginal seller is the seller who

Business
1 answer:
trapecia [35]2 years ago
3 0

Answer:

b. would leave the market first if the price were any lower.

Explanation:

In the market, the producer always sells more than the economic cost ( raw materials and labor cost) that he bears during production. The marginal seller means that the seller earns zero economic profit ( producer surplus) i.e. an economic cost equals the selling price. So if the price falls then the marginal seller would leave the market first because he will be indifferent when earns the zero economic profit but when the price falls he would leave the market.

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Read 2 more answers
Larkspur, Inc. reports net income of $89,770 in 2017. However, ending inventory was understated by $7,100. Collapse question par
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