In the short-run, if a perfectly competitive firm chooses to produce, then its profits are maximized by producing the quantity of output where price (P) = marginal cost (MC). true false
In the short-run, if a perfectly competitive firm chooses to produce, then its profits are maximized by producing the quantity of output where price (P) = marginal cost (MC). true false
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter22: Perfect Competition
Section: Chapter Questions
Problem 7WNG
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