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Microeconomics 20th Edition by McConnell, Sean Flynn, Stanley Brue
Edition 20ISBN: 978-1308221281Microeconomics 20th Edition by McConnell, Sean Flynn, Stanley Brue
Edition 20ISBN: 978-1308221281 Exercise 5
Why is the equality of marginal revenue and marginal cost essential for profit maximization in all market structures Explain why price can be substituted for marginal revenue in the MR = MC rule when an industry is purely competitive.
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Equating marginal revenue and marginal c...
Microeconomics 20th Edition by McConnell, Sean Flynn, Stanley Brue
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