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stars_and_moon stars_and_moon
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8 years ago
Which of the following applies only to price-taking firms?
A) The profit maximization rule should guide all decisions where marginal changes can be made, not just decisions about what quantity to produce.
B) Profit is equal to total revenue minus total cost.
C) Produce to the point where price equals marginal cost.
D) Produce to the point where marginal revenue equals marginal cost.
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kingbykingby
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8 years ago
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#2
8 years ago
I figured, great answer
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#3
8 years ago
I instantly knew the answer when I read the question, happy to help
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