Explain Why,for All Firms,profits Are Maximized Where Marginal Revenue Equals

question 53

Essay

Explain why,for all firms,profits are maximized where marginal revenue equals marginal cost.

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Definitions:

Limestone

A sedimentary rock composed mainly of calcium carbonate, commonly used in construction and as a raw material in manufacturing.

Marble

A metamorphic rock formed from limestone, known for its use in sculpture and architecture due to its beauty and durability.

Water Contamination

The presence of harmful substances in water, which can degrade water quality and pose health risks to humans, animals, and ecosystems.

Igneous Rock

Rock formed from cooled and solidified magma or lava.