Explain why P = MC in the short-run equlibrium of the perfec

Explain why P = MC in the short-run equlibrium of the perfectly competitive firm, whereas in the lon… Show more Explain why P = MC in the short-run equlibrium of the perfectly competitive firm, whereas in the long-run equilibrium P = MC = AC. Please fully explain answers, do not just give short answers without explainations. Please show all work. • Show less

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