The perfectly competitive, profit-maximizing rate of production

A) occurs at the point at which marginal revenue is equal to marginal cost.
B) occurs at the point at which the difference between marginal revenue and marginal cost is maximized.
C) is not measurable for a perfectly competitive firm.
D) ignores the relation of total revenues and total costs.

A

Economics

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Which of the following will tend to cause an increase in technology?

A) increases in human capital B) an increase in research and development expenditures C) the development of new ideas D) all of the above

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When economists look at the percentage change in quantity demanded generated by a change in income, they are looking at:

a. price elasticity of demand. b. income elasticity of demand. c. price elasticity of supply. d. cross elasticity of demand. e. cross elasticity of supply.

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