In long-run equilibrium, P = minimum ATC = MC. Of what significance for economic efficiency is the

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In long-run equilibrium, P = minimum ATC = MC. Of what significance for economic efficiency is the equality of P and minimum ATC? The equality of P and Me? Distinguish between productive efficiency and allocative efficiency in your answer.

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Economics

ISBN: 978-0073375694

18th edition

Authors: Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn

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Question Posted: May 20, 2013 06:21 AM

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In long-run equilibrium, P = minimum ATC = MC. Of what significance for economic efficiency is the

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The equality of P and minimum ATC means the firms is achieving productive effic...View the full answer

Economics

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