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You have just been appointed as the County Commissioner of Hazard County. You realize that you should learn some economic concepts that will be useful

You have just been appointed as the County Commissioner of Hazard County. You realize that you should learn some economic concepts that will be useful to you in your new job. Part 2 In a free market, efficient firms will produce where marginal cost total cost social surplus equals marginal revenue taxes average cost . Part 3 Marginal revenue Total surplus Total cost is maximized when firms produce at equilibrium in a free market

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