Assume for a perfectly competitive firm that mc avc at 12
Assume for a perfectly competitive firm that MC = AVC at $12, MC = ATC at $20, and MC = MR at $16. On the basis of this information, the firm should not be in production. Do you agree?
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assume for a perfectly competitive firm that mc avc at 12 mc atc at 20 and mc mr at 16 on the basis of this
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