MR, MC=MR, ATC – Graph (BEC)

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  • July 30, 2012 at 11:47 pm #172906
    Anonymous
    Inactive

    So I understand pure compettion, Monopoly, etc…however, I’m having a really hard time understanding MC, ATC, P=MR and all other factors on the graph. Is this important to know for the exam?

    Don’t get me wrong, I memorized the formulas to find AFC/ATC/AVC, etc…but just don’t understand how it’s applied on the graph under different market structures.

    HELP!

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