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Homework answers / question archive / The open access equilibrium for a common property resource occurs at the point where

The open access equilibrium for a common property resource occurs at the point where

Economics

The open

access equilibrium for a common property resource occurs at the point where...

a.

Average revenue equals

marginal

costs

b.

Total social benefits are maximized

c.

Total private benefits are maximized

d.

Marginal revenue equal marginal costs

e.

Marginal revenue equals

total costs

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Marginal cost and average revenue is equal when there is perfectly competitive market. the open access equilibrium for a common property resource occurs at the point where average revenue equals to marginal cost.