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.

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Definitions:

Food Security

A condition in which all people, at all times, have physical, social, and economic access to sufficient, safe, and nutritious food that meets their dietary needs and food preferences for an active and healthy life.

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Motor skills related to the development and coordination of small muscles, such as those that move the fingers and eyes.

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