Firms that operate in perfectly competitive markets try to
a. maximize revenues.
b. maximize profits.
c. equate marginal revenue with average total cost.
d. All of the above are correct.
b
Economics
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Nominal GDP is $12.1 trillion and real GDP is $11.0 trillion. The GDP price index is
A) 90.1. B) 121. C) 1.10. D) 91.0. E) 110.
Economics
One desirable outcome of a market economy is that it leads to a more equitable distribution of income
Indicate whether the statement is true or false
Economics