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djsmyers djsmyers
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6 years ago
At the competitive equilibrium quantity supplied equals quantity demanded in all markets.
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Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
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wrote...
6 years ago
True. When the MRS = MRT = ratio of prices, the optimal product mix is produced efficiently and firms sell at marginal cost.
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