How does a competitive firm determine its profit-maximizing level of output? Explain when does a profit-maximizing competitive

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How does a competitive firm determine its profit-maximizing level of output? Explain when does a profit-maximizing competitive firm decide to shut down? When does it decide to exit a market?

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Principles of economics

ISBN: 978-0538453042

6th Edition

Authors: N. Gregory Mankiw

Question Posted: Dec 14, 2012 06:58 AM

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How does a competitive firm determine its profit-maximizing level of output? Explain when does a profit-maximizing competitive

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A profitmaximizing competitive firm sets price equal to its marginal cost If price were abo...View the full answer

Principles of economics

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