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Answer to Question #75781 in Microeconomics for stan
Question #75781
If a firm is producing where its short-run marginal cost (SMC) = price and the long-run marginal
cost (LMC) is less than long-run average cost (LAC), then it would do better in the long run by …
cost (LMC) is less than long-run average cost (LAC), then it would do better in the long run by …
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