Does a firms price equal marginal cost in the short run, in the long run, or both?

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

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Principles of economics

ISBN: 978-0538453042

6th Edition

Authors: N. Gregory Mankiw

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Question Posted: Dec 14, 2012 06:59 AM

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Does a firms price equal marginal cost in the short run, in the long run, or both?

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Principles of economics

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