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Business

Economics

Does a competitive firm’s price equal its marginalcost in the short run, in the long run, or both?Explain.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter22: Perfect Competition

Section: Chapter Questions

Problem 7WNG

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Does a competitive firm’s price equal its marginal
cost in the short run, in the long run, or both?
Explain.

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