Question
Why is the equality of marginal revenue and marginal cost essentialfor profitmaximization in all market structures? Explain why price can be substituted for marginal revenue
Why is the equality of marginal revenue and marginal cost essentialfor profitmaximization in all market structures? Explain why price can be substituted for marginal revenue in the MR = MC rule when an industry is purely competitive.
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Essentials Of Accounting
Authors: Robert N Anthony, Leslie K Breitner
10th Edition
136071821, 9780136071822
