To Maximize Profit a Perfectly Competitive Firm Supplies a Good

question 45

Multiple Choice

To maximize profit a perfectly competitive firm supplies a good up to the point at which:

• A)the marginal revenue is higher than the marginal cost.
• B)the marginal cost of producing the good is zero.
• C)the price of the good equals marginal cost.
• D)the average revenue equals average cost.

---

Definitions:

Lateral Malleolus

The bony prominence on the outer side of the ankle, forming part of the fibula.

Fibula

A long, thin bone located on the lateral side of the tibia in the lower leg, playing a key role in stabilizing the ankle and supporting lower leg muscles.

Hyoid Bone

U-shaped bone between the mandible and larynx.

Axial

Relating to or situated around a central axis, typically referring to the body or parts of the body.