PRICE Economic profits are zero. Marginal Revenue equals Marginal Cost Marginal Cost Average Total Cost The graph above shows the short-run cost curves of a firm in a perfectly competitive market. Which of the following are true at the firm's profit- maximizing output level? Price exceeds average total cost. O Marginal cost equals average total cost. Average Variable Cost QUANTITY

The graph above shows the short-run cost curves of a firm in a perfectly competitive market. Which of the following are true at the firm's profit-maximizing output level? Economic profits are zero. Marginal Revenue equals Marginal Cost Price exceeds average total cost. Marginal cost equals average total cost