Why does a firm in perfect competition produce the quantity at which marginal cost equals price?

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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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Question Posted: Dec 15, 2015 07:16 AM

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Why does a firm in perfect competition produce the quantity at which marginal cost equals price?

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A firms total profit is maximized by producing the level of output at w...View the full answer

Microeconomics

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