When Price and Marginal Cost Are Equal for a Perfectly

question 124

Multiple Choice

When price and marginal cost are equal for a perfectly competitive firm, the firm is

• A) minimizing average total cost.
• B) maximizing total revenue.
• C) maximizing economic profit.
• D) earning negative economic profit.

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Definitions:

Antigen

A foreign invader of the body, such as a bacterium or virus.

Foreign Invader

An external agent, often microscopic, that enters the body and can cause disease or trigger an immune response.

Lymphocyte

A type of white blood cell that plays a vital role in the immune system, helping the body fight infection and disease.

Collagen

A major structural protein found in skin, bones, tendons, and other connective tissues, crucial for tissue strength and elasticity.