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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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