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A Markup of Price Over Marginal Cost Is Inconsistent with Free

question 188

True/False

A markup of price over marginal cost is inconsistent with free entry and zero profit.


Definitions:

Standard Form

A predefined and universally accepted way of presenting mathematical, logical, or scientific data and statements.

Declarative English

Sentences in English that state a fact or argument, providing information in a straightforward manner.

Predicate

A part of a sentence or an equation that states something about the subject and usually contains a verb.

Categorical Proposition

A statement that asserts or denies something about every member of a category.

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