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Describe the five forces in a competitive environment.
MR>MC
A condition where marginal revenue (MR) exceeds marginal costs (MC), indicating a potential profit increase if production is expanded.
Increase Production
A process of ramping up the quantity of goods produced, often in response to higher demand or to achieve economies of scale.
Firm Should
A recommendation or strategy that a business organization is advised to follow in order to optimize performance, achieve objectives, or address specific challenges.
MR<MC
A condition in microeconomics indicating that the marginal revenue is less than the marginal cost, suggesting a decrease in profit if production is increased.
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