Accounting and finance professors are often stunned when Economics professors introduce them to the concept of MC = MR. They like it because it is a proactive formula that looks to the future and uses accounting data to determine what price the firm should charge and what quantity they should produce in order to maximize profits. --- On the other hand the simple accounting raw data and financial statements such as the firm's Income & Expense Statement are incapable of doing the same thing as MC=MR because accounting numbers and statements simply look backward (like looking in a rearview mirror) and only tell us about what happened in the past. Group startsTrue or False