For any given price, a firm in a competitive market will maximize profit by selecting the level of output where price intersects which curve? A. marginal-revenue curve B. average-total-cost curve C. marginal-cost curve D. average-variable-cost curve
For any given price, a firm in a competitive market will maximize profit by selecting the level of output where price intersects which curve? A. marginal-revenue curve B. average-total-cost curve C. marginal-cost curve D. average-variable-cost curve
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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66)For any given price, a firm in a competitive market will maximize profit by selecting the level of output where price intersects which curve?
- A. marginal-revenue curve
- B.
average-total-cost curve - C. marginal-cost curve
- D. average-variable-cost curve
65)
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