39. A perfectly competitive firm maximizes its profit by producing the level of output so that its average total cost equals the market price. True False
39. A perfectly competitive firm maximizes its profit by producing the level of output so that its average total cost equals the market price. True False
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 7QR
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39. A
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False
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