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Unit IV: Imperfect Competition

Unit IV: Imperfect Competition. Problem Set #4. 1a. Barriers to Entry -Skip (Hurst will grade). 1b. MR=MC Rule 1 Point- Profit-maximizing point, true for all market structures 1 Point- Explanation of why MR=MC is the rule (any point beyond the firm is losing money)

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Unit IV: Imperfect Competition