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What is the equation of the industrys short run supply curve?

Economics
Tutor: None Selected Time limit: 1 Day

Apr 15th, 2015

Short‐run profit maximization. A firm maximizes its profits by choosing to supply the level of output where its marginal revenue equals its marginal cost. When marginal revenue exceeds marginal cost, the firm can earn greater profits by increasing its output. When marginal revenue is below marginal cost, the firm is losing money, and consequently, it must reduce its output. Profits are therefore maximized when the firm chooses the level of output where its marginal revenue equals its marginal cost.


Apr 21st, 2015

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