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Microeconomics 20th Edition by McConnell, Sean Flynn, Stanley Brue
Edition 20ISBN: 978-1308221281Microeconomics 20th Edition by McConnell, Sean Flynn, Stanley Brue
Edition 20ISBN: 978-1308221281 Exercise 6
The socially optimal price ( P 5 MC)is socially optimal because:
A) It reduces the monopolist's profit.
B) It yields a normal profit.
C) It minimizes ATC.
D) It achieves allocative efficiency.
A) It reduces the monopolist's profit.
B) It yields a normal profit.
C) It minimizes ATC.
D) It achieves allocative efficiency.
Explanation
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Efficient allocation:
Allocation of pro...
Microeconomics 20th Edition by McConnell, Sean Flynn, Stanley Brue
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