4. Why is the equality of marginal revenue and marginal cost essential for profit maximization in all

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4. 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. LO3

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Essentials Of Economics

ISBN: 9780077502140

3rd Edition

Authors: Stanley Brue, Campbell McConnell, Sean Flynn

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Question Posted: Oct 03, 2024 03:04 AM

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4. Why is the equality of marginal revenue and marginal cost essential for profit maximization in all

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Essentials Of Economics

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