In the Short Run, a Purely Competitive Firm That Seeks

question 342

Multiple Choice

In the short run, a purely competitive firm that seeks to maximize profit will produce

• A)where the demand and the ATC curves intersect.
• B)where total revenue exceeds total cost by the maximum amount.
• C)that output at which economic profits are zero.
• D)at any point where the total revenue and total cost curves intersect.

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Definitions:

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