A Perfectly Competitive Firm Will Maximize Profits by Choosing an Output

question 139

Multiple Choice

A perfectly competitive firm will maximize profits by choosing an output level where

• A)Price is greater than marginal cost.
• B)Price equals marginal cost.
• C)Price equals total cost.
• D)Price is greater than total cost.

---

Definitions:

Satisfaction

The feeling of pleasure or fulfillment that comes from meeting one's expectations or achieving a goal.

Expression

Expression involves the process of making one's thoughts, feelings, or ideas known through speech, writing, or artistic forms.

Interactional Listening

The process of actively engaging with and understanding messages conveyed in an interaction, emphasizing both verbal and non-verbal communication.

Selective Perception

The process by which individuals perceive what they want in media messages while ignoring opposing viewpoints.