Explain why it is true that for a firm in a perfectly competitive market, the profit-maximizing condition mr = mc is equivalent to the condition p = mc. when maximizing profits, mr = mc is equivalent to p = mc because

is equivalent to both of the given conditions in a fully competitive market.

Explanation:

In profit maximization, corresponds to since, for a fully competitive product, the marginal revenue curve is the same as its demand. If a company produces during this level, marginal income is lower than marginal cost.

This ensures that for each additional production unit, the company loses profit and should deliver less. the company produces less and may increase income by higher output.

To sum up, the company produces less and can make profit by increasing production the company produces more and can earn a profit by reducing the output.

answer; normative economics;

among other factors, composers started writing dynamic markings in their scores because "new instruments allowed for more dynamic ranges and contrast."

dynamics allude to the loudness or softness of music. dynamics offer an approach to demonstrate articulation in sheet music. they to drive the enthusiastic substance of music through volume and force. maybe you could alter both the volume and the shading profundity on your screen at the same time. we can likewise think about the force side of elements as the quality of a note. a few notes are intended to be played delicately and gently, while others are intended to be played all the more firmly.  

some dynamics markings have a letter 'm,' which remains for mezzo, signifying 'medium.' so a mezzo piano unique stamping resembles this (mp) and intends to play medium calm, while a mezzo specialty dynamic resembles this (mf) and intends to play medium loud.