33) At the profit-maximizing level of output for a perfectly competitive firm A) price equals average revenue and marginal cost equals average variable cost. B) marginal revenue equals marginal cost and average total cost equals average fixed cos Oaverage revenue equals average variable cost and price equals marginal cost. D) price equals marginal cost.

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A: Total Revenue=Average Revenue×QuantityAverage Revenue=Total RevenueQuantity

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A:

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A: Total cost = TFC + TVC                  = $20,000 + $50,000                  = $70,000

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A: TR = 2500 Profit = 500 Price = 12 ATC = ?

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