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Business, 18.04.2020 03:52 annabanana1298

The market price of a good equates theof production and thevalue that consumers attach to a unit of the good. Because the price also reflects theof the resources employed to produce the last unit, consumers will value the last unit they purchase at least as much as they would value any other good that those resources could have produced. These characteristics of perfectly competitive markets guaranteeefficiency.

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