Question: What was the one most important concept you learned in the readings on costs of production and competitive markets? In a one page essay, summarize

What was the one most important concept you learned in the readings on costs of production and competitive markets? In a one page essay, summarize this concept, explain how it changed your prior understanding, and show that this concept is important by applying it to a real life situation.. Please make certain that this essay is based on your own understanding, not found on the internet.

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