If a Perfectly Competitive Firm Is Operating in the Short

question 18

Multiple Choice

If a perfectly competitive firm is operating in the short run and seeks to maximize profit, what action should the firm take?

• A) Choose the output where per-unit profit is greatest.
• B) Increase output whenever price exceeds marginal cost.
• C) Increase output whenever marginal revenue is less than marginal cost.
• D) Increase output whenever marginal cost is less than average total cost.

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