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If a Firm Sets Marginal Revenue Equal to Marginal Cost,it

question 70

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If a firm sets marginal revenue equal to marginal cost,it will make an economic profit.

Relate concepts of economic profits, losses, and break-even conditions to firm behavior and market adjustments.
Understand the dynamics of market demand and supply in determining product prices and total output.
Comprehend the concept of allocative and productive efficiency in market structures.
Analyze the conditions for least-cost production and resource allocation.

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