What are firms assumed to maximize? Under what constraints do firms perform this maximization? Describe how the

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What are firms assumed to maximize? Under what constraints do firms perform this maximization? Describe how the individual firm determines the output level that achieves that maximum. Can you characterize the firm’s constrained maximum as one for which marginal cost equals marginal benefit?

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Law and economics

ISBN: 978-0132540650

6th Edition

Authors: Robert cooter, Thomas ulen

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