In the short run, a perfectly competitive firm will maximize profit by producing where:
a. MC = MR

b. MC = ATC.
c. ATC = MR.
d. AVC = MC.

a

Economics

You might also like to view...

As a percentage of GDP, exports are greater than imports for which of the following countries?

A) France B) China C) the United Kingdom D) the United States

Economics

Households act as suppliers when they provide

a. goods and services to firms and governments b. resources to firms and governments c. tax payments to governments d. the demand for only what firms supply or make available e. money to firms in exchange for goods and services

Economics