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Maximization of profits and competitive supply

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In a perfectly competitive industry, should all companies have the same cost curves, so that when the industry is in long-term (long-run) equilibrium they are all at that point? Explain

Pindyck, R. andD. Rubinfeld (2001), Microeconomics,5th edition, Pearson-Prentice Hall, Madrid. (Chapter8). Chapter8,"The Maximization of Profits and Competitive Supply"

Reference no: EM132511694

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