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A firm will maximize its profits by hiring factors up to the point at which

youngbloodz

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A firm will maximize its profits by hiring factors up to the point at which

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MR = MC, if the firm is a monopolist, monopolistic competitor, or oligopolist.

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P = MC, if the firm is a perfect competitor.

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MRP = MFC.

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VMP = MFC, if the firm is a price searcher (monopolist, etc.).

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a and b

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Economics

Edition: 12^th

Author: Arnold

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More solutions for this book are available here

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

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