-
About
Our Story
back- Our Mission
- Our Leadershio
- Accessibility
- Careers
- Diversity, Equity, Inclusion
- Learning Science
- Sustainability
Our Solutions
back
-
Community
Community
back- Newsroom
- Webinars on Demand
- Digital Community
- The Institute at Macmillan Learning
- English Community
- Psychology Community
- History Community
- Communication Community
- College Success Community
- Economics Community
- Institutional Solutions Community
- Nutrition Community
- Lab Solutions Community
- STEM Community
- Newsroom
- Macmillan Community
- :
- Economics Community
- :
- Economics Premium Content
- :
- Alex Tabarrok: The Central Importance of the P=MC ...
Alex Tabarrok: The Central Importance of the P=MC Condition.
We all teach the P=MC condition for profit maximization in a competitive market. I will also show that this condition is essentially for understanding and teaching one of the great invisible hand theorems of economics and it also has implications in macroeconomics for understanding misallocation and the wealth of nations.
