The market for hamburgers in an economy where the market equilibrium is characterized by a number of hamburgers of 50 million and a price of $5.00 per hamburger the opportunity cost of producing the last hamburger equals the marginal benefit of consumption.
The equilibrium quantity of hamburgers is fifty million. The equilibrium price of each unit of hamburgers is five dollars. The economic system is producing at fifty million output and five dollars price. this implies that the financial system is in equilibrium. At equilibrium, the price of manufacturing might be equal to the gain. for that reason, we are able to say that the financial system is producing at an efficient level.
In case the price is better than the marginal gain it implies that production is inefficient. A marketplace final results in which the quantity provided is equal to the quantity demanded. the selections of customers and manufacturers are delivered in concord with one another, and the amount demanded will equal the quantity furnished.
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