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Profit Maximization is MR = MC and P = MR When to use MR = MC and when to use P = MR? As well
Profit Maximization is MR = MC
and
P = MR
When to use MR = MC and when to use P = MR?
As well as Cost Minimization is AC = MC
and
P = MC
When to use AC = MC
and
P = MC
Please help explain in easy words
An example could be very helpful
Thank you very much
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