4. Why is the equality of marginal revenue and marginal cost essential for profit maximization? Explain why

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4. Why is the equality of marginal revenue and marginal cost essential for profit maximization? Explain why price can be substituted for marginal revenue in the MR ⫽ MC rule when an industry is purely competitive. LO3

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Essentials Of Economics

ISBN: 9780073511313

2nd Edition

Authors: Stanley L. Brue, Campbell R. McConnell, Sean M. Flynn

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Question Posted: Sep 28, 2024 09:00 AM

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4. Why is the equality of marginal revenue and marginal cost essential for profit maximization? Explain why

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Essentials Of Economics

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