A Profit-Maximizing Firm in a Competitive Market Will Always Make

question 480

Multiple Choice

A profit-maximizing firm in a competitive market will always make marginal adjustments to production as long as

• A)average revenue is greater than average total cost.
• B)average revenue is equal to marginal cost.
• C)marginal cost is greater than average total cost.
• D)price is above or below marginal cost.

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