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Economics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0078021800Economics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0078021800 Exercise 5
At the output at which MC = MR, suppose that price were higher than AVC but lower than ATC. What should the firm do in the short run and the long run? Explain your answer.
Explanation
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A firm under perfect competition will go...
Economics 11th Edition by Stephen Slavin
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