In long run equilibrium, a competitive firm maximizes profits by a. producing an output level where...

Question

Question

In long run equilibrium, a competitive firm maximizes profits by

	a.	producing an output level where marginal revenue equals marginal cost.
	b.	charging a price equal to marginal revenue and marginal cost.
	c.	charging a price where marginal cost equals average total cost.
	d.	All of the above are correct.

Answer 1

Answer #1

Answer 2

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