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Home Q & A Board Other Fields Homework Help Business Economics
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Loraine Loraine
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8 years ago
If a perfectly competitive firm is maximizing its profit and is making an economic profit, which of the following is correct?
i.   Price equals marginal revenue.
ii.   Marginal revenue equals marginal cost.
iii.   Price is greater than average total cost.
A) i only
B) i and ii only
C) ii and iii only
D) i and iii only
E) i, ii, and iii
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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SmooothSmoooth
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8 years ago
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#2
8 years ago
You're welcome Happy Dummy
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