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rsteel rsteel
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2 years ago
A firm in a perfectly competitive industry will maximize profits by adjusting

▸ average total cost until it equals price.

▸ price until average revenue equals average total cost.

▸ price until marginal revenue equals marginal cost.

▸ output until average revenue equals short-run average total cost.

▸ output until marginal cost equals marginal revenue.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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smiller94107smiller94107
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2 years ago
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rsteel Author
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