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Question: The Economics of the Pricing Decision Economic theory states that managers should set price equal to marginal cost in perfect competition. Accountants use variable cost to approximate marginal costs. Compare and contrast marginal cost and variable cost, and explain whether using variable costs as an approximation for marginal cost is appropriate for making pricing decisions.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92644788

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