Use the following to answer question:
-(Figure: Marginal Decision Rule) Use Figure: The Marginal Decision Rule.At q₂,or the _____,the _____ price is equal to marginal cost.

Question

Use the following to answer question: -(Figure: Marginal Decision Rule)Use Figure: The Marginal Decision Rule.At q₂,or the _____,the _____ price is equal to marginal cost.

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At the profit-maximizing quantity, the market price is equal to marginal cost, which is a fundamental principle in economics for determining the optimal level of production for a firm.

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