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competitive firms

Question 1 :

True or False: "In the long run, no matter what the price, a competitive firm should provide the output that minimizes long-run average cost (a.k.a the efficient scale), since that output maximizes profit per unit of output."

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True or False: "In the long run, no matter what the price, a competitive firm should provide the output that minimizes long-run average cost (a.k.a the efficient scale), since that output maximizes profit ...

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This solution gives you a detailed discussion on competitive firms

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