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Home Q & A Board Other Fields Homework Help Business Economics
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shaerovira shaerovira
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5 years ago
A perfectly competitive firm will maximize its profit at the level of output where the vertical distance between its total revenue curve and total cost curve is the largest. This is the same level of output where

• average total cost equals marginal revenue.

• marginal revenue equals marginal profit.

• marginal revenue equals marginal cost.

• marginal revenue equals average revenue.
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
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DryPhantomDryPhantom
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5 years ago
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