Explain why it is true that for a firm in a perfectly competitive market, the profit-maximizing condition

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Explain why it is true that for a firm in a perfectly competitive market, the profit-maximizing condition MR = MC is equivalent to the condition P = MC.

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Economics

ISBN: 9780135957554

8th Edition

Authors: Glenn Hubbard, Anthony Patrick O Brien

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Question Posted: Oct 10, 2023 08:39 AM

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Explain why it is true that for a firm in a perfectly competitive market, P = MR = AR.
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Explain why it is true that for a firm in a perfectly competitive market, the profit-maximizing condition

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In a perfectly competitive market firms are price takers meaning they have no control over the price ...View the full answer

Economics

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