If in a market the last unit of output was sold at a price higher than marginal cost,
A) producers are better off producing more.
B) consumers are better off if less of the product is sold.
C) social welfare is not maximized.
D) the unit increased total profit.
C
Economics
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Which of the following is an exogenous variable in the model of a small open economy, but an endogenous variable in the model of a large open economy?
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