Both a Price Taker and a Price Searcher Maximize Profits

question 71

Multiple Choice

Both a price taker and a price searcher maximize profits (or minimize losses) by producing the quantity of output at which __________ equals __________.

• A)total revenue; total cost
• B)average total cost; price
• C)average variable cost; marginal cost
• D)marginal revenue; marginal cost
• E)marginal cost; average fixed cost

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