Why it the profit maximised when the marginal cost(MC) is equal to the marginal revenue (MR) Why is the marginal cost curve equal to supply curve in the perfectly competitive market Does the competition exist in a one man economy

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Why it the profit maximised when the marginal cost(MC) is equal to the marginal revenue (MR)? Why is the marginal cost curve equal to supply

Why it the profit maximised when the marginal cost(MC) is equal to the marginal revenue (MR)?
Why is the marginal cost curve equal to supply curve in the perfectly competitive market?
Does the competition exist in a one-man economy?

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