16. In the short run, the profit maximization for a firm in a perfectly competitive market would be: the marginal revenue is equal to the market price the marginal revenue is equal to the average revenue The market price is equal to the marginal cost O the marginal revenue is greater than the marginal cost
16. In the short run, the profit maximization for a firm in a perfectly competitive market would be: the marginal revenue is equal to the market price the marginal revenue is equal to the average revenue The market price is equal to the marginal cost O the marginal revenue is greater than the marginal cost
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter13: Firms In Competitive Markets
Section: Chapter Questions
Problem 3CQQ
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