A profit-maximizing firm in the short run will expand output until marginal cost begins to rise until total revenue equals total cost until marginal cost equals average variable cost as long as marginal revenue is greater than marginal cost
A profit-maximizing firm in the short run will expand output until marginal cost begins to rise until total revenue equals total cost until marginal cost equals average variable cost as long as marginal revenue is greater than marginal cost
Chapter9: Perfect Competition
Section: Chapter Questions
Problem 8WNG
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A profit-maximizing firm in the short run will expand output
until marginal cost begins to rise
until total revenue equals total cost
until marginal cost equals
as long as marginal revenue is greater than marginal cost
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