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When you see the formula P = MC = MR = Demand, what is this describing? Multiple Choice A firm involved in a Perfect Competition.
When you see the formula P = MC = MR = Demand, what is this describing? Multiple Choice A firm involved in a Perfect Competition. This is the formula that cartels use to set prices. This is the formala that government regulators use to control the pricing strategy of a monopoly. This is a crazy formula. There is no such thing in microeconomics
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Principles of economics
Authors: N. Gregory Mankiw
6th Edition
978-0538453059, 9781435462120, 538453052, 1435462122, 978-0538453042
