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Explain the MR=MC approach and the concept of economic profit. B. Assuming no shut-down, why are the supply curve and the marginal cost curve of
Explain the MR=MC approach and the concept of economic profit.
B. Assuming no shut-down, why are the supply curve and the marginal cost curve of the firm identical under perfect competition?
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Economics Today The Macro View
Authors: Roger LeRoy Miller
18th Edition
0133884872, 978-0133884876
