In a perfectly competitive market with no externalities, what do the market demand and supply measure?
The market demand curve measures the ________ and the market supply curve measures the ________.

Question

In a perfectly competitive market with no externalities, what do the market demand and supply measure? 
 The market demand curve measures the ________ and the market supply curve measures the ________.

Accepted Answer

marginal social benefit; marginal social cost

Answer

marginal social cost; marginal social benefit

Answer

firms' marginal benefit; consumers' marginal cost

Answer

firms' marginal cost; consumers' marginal social benefit

Answer

consumer surplus; producer surplus

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In a perfectly competitive market with no externalities, what do the market dema...

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