7. In long-run equilibrium, P minimum ATC MC. What is the significance of the equality...

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7. In long-run equilibrium, P ⫽ minimum ATC ⫽ MC.

What is the significance of the equality of P and minimum ATC for society? The equality of P and MC? Distinguish between productive efficiency and allocative efficiency in your answer

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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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7. In long-run equilibrium, P minimum ATC MC. What is the significance of the equality...

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Essentials Of Economics

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