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    Principles of Microeconomics
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    Exam 9: Long-Run Costs and Output Decisions
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    Information on MC of Production Is All That Is Necessary
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Information on MC of Production Is All That Is Necessary

Question 210

Question 210

True/False

Information on MC of production is all that is necessary to obtain the long-run industry supply curve, because P = MC is the profit-maximization condition for all firms.

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