A perfectly competitive firm maximizes its profit by producing the output at which its marginal cost equals its Select one: a. average variable cost. b. marginal revenue. c. average total cost. d. average fixed cost.
A perfectly competitive firm maximizes its profit by producing the output at which its marginal cost equals its Select one: a. average variable cost. b. marginal revenue. c. average total cost. d. average fixed 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 6QR
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A perfectly competitive firm maximizes its profit by producing the output at which its marginal cost equals its
Select one:
a.
average variable cost .
b.
marginal revenue.
c.
average total cost .
d.
average fixed cost.
Clear my choice
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