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A critique of the marginal revenue/marginal cost theory of price and output determination is that Question 25 options: a) firms don't actually set MR =
A critique of the marginal revenue/marginal cost theory of price and output determination is that Question 25 options: a) firms don't actually set MR = MC to maximize profits. b) firms may have to shut down in the short run. c) covering just marginal costs, in most cases, would lead to losses. d) Both a and b are correct. e) Both a and c are correct
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Quantitative Methods for Business
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
13th edition
1285866312, 978-0357685648, 978-1285866314
