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A perfectly competitive firm and a monopoly firm are producing the profit-maximizing amount of output when they are producing so that O MC = MR

A perfectly competitive firm and a monopoly firm are producing the profit-maximizing amount of output when they are producing so that O MC = MR OP > ATC OP > MR O Both answers A and B are correct. O None of the above answers is correct because there is no general rule that applies to both types of firms

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