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Which is the first-order condition for the profit of a firm to be maximum?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter8: Perfect Competition

Section: Chapter Questions

Problem 8SCQ: A market in perfect competition is in long-run equilibrium. What happens to the market if labor...

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Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.

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2. Which is the first-order condition for
the profit of a firm to be maximum?
A. O AC=MR
В. О МС-MR
C. O MR=AR
D. O AC=AR

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