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Question: question 12 which pricing rule generates the greatest welfare for...

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Question 12

Which pricing rule generates the greatest welfare for society?

A marginal cost
B fixed cost
C variable cost
D average cost
E total cost

Question 13

A firm’s willingness to supply its product in the long run is represented on a graph by the

A marginal revenue (MR) curve.
B part of the marginal cost (MC) curve above minimum average variable cost (AVC).
C market supply curve.
D part of the marginal cost (MC) curve above minimum average total cost (ATC).
E entire marginal cost (MC) curve.
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