A firm will maximize profit at the level of output where:
A) its marginal revenue equals total cost.
B) its marginal revenue equals marginal cost.
C) its total cost equals total revenue.
D) its average revenue equals average cost.
B
Economics
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A perfectly competitive firm's short-run supply curve is the:
a. average total cost curve. b. demand curve above the marginal revenue curve. c. same as the market supply curve. d. marginal cost curve above the average variable cost curve.
Economics