Economics
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Boundless Economics
Principles of Economics
Basic Economic Questions
Economics Textbooks Boundless Economics Principles of Economics Basic Economic Questions
Economics Textbooks Boundless Economics Principles of Economics
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Economics
Concept Version 7
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Production Outputs

Production Conditions

Production Conditions

A firm will seek to produce such that its marginal cost (MC) is equal to marginal revenue (MR, which is equal to the price and demand). It is not produced based on average total cost (ATC).

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    Boundless vets and curates high-quality, openly licensed content from around the Internet. This particular resource used the following sources:

    "Profit max marginal small."
    http://en.wikipedia.org/wiki/File:Profit_max_marginal_small.svg Wikipedia CC BY-SA.

Related Terms

  • fixed costs
  • average total cost
  • variable cost
  • marginal cost
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