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Explain how a firm maximises its profit in perfect competition. [12] (b) Discuss whether profit maximisation is the best strategy in the long run for

Explain how a firm maximises its profit in perfect competition. [12]

(b) Discuss whether profit maximisation is the best strategy in the long run for firms in different market structures.

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Managerial economics

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Authors: william f. samuelson stephen g. marks

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