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Microeconomics 15th Edition by James Gwartney,Richard Stroup,Russell Sobel,David Macpherson
Edition 15ISBN: 978-1285453569Microeconomics 15th Edition by James Gwartney,Richard Stroup,Russell Sobel,David Macpherson
Edition 15ISBN: 978-1285453569 Exercise 7
"In a price-taker market, if a business operator produces efficiently-that is, if the cost of producing the good is minimized-the operator will be able to make at least a normal profit." True or false Explain.
Explanation
Verified
Verified
False.
Cost minimizing (or profit maxim...
Microeconomics 15th Edition by James Gwartney,Richard Stroup,Russell Sobel,David Macpherson
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