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Other Fields Homework Help Economics Topic started by: tlc_71111 on Mar 3, 2019



Title: Competitive pricing is efficient because
Post by: tlc_71111 on Mar 3, 2019
Competitive pricing is efficient because

• firms make positive economic profits in long-run equilibrium.

• the price that consumers pay reflects the opportunity cost to society of producing the good.

• firms produce above the minimum efficient scale.

• average revenue equals average cost.


Title: Competitive pricing is efficient because
Post by: rand22 on Mar 3, 2019
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