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Revenue under Conditions of Perfect and Imperfect Competition
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220Optimal Price and Output in Perfect Competition:costcompetitive firm earns zero economic profit in the long run.
170Revenue under Conditions of Perfect and Imperfect Competition:Imperfect Competition
502Marginal Revenue, Marginal Cost, and Profit Maximization:[Practice,200 units is closest to:period.MC = ΔTCΔQ.Long-runVariableAveragethat 1 MR = MC and 2 MC is not falling.
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