In perfect competition, at a firms short-run profit-maximizing (or loss-minimizing) output, a. its marginal revenue equals zero.

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In perfect competition, at a firm’s short-run profit-maximizing (or loss-minimizing) output,

a. its marginal revenue equals zero.

b. its price could be greater or less than average cost.

c. its marginal revenue will be falling.

d. both (b) and (c) will be true.

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Exploring Microeconomics

ISBN: 9781544339443

8th Edition

Authors: Robert L. Sexton

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Question Posted: May 19, 2024 03:02 AM

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In perfect competition, at a firms short-run profit-maximizing (or loss-minimizing) output, a. its marginal revenue equals zero.

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Exploring Microeconomics

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