When a Firm Maximizes Its Profit,which of the Following Is

question 76

Multiple Choice

When a firm maximizes its profit,which of the following is correct for firms in monopolistic competition and perfect competition?

• A) P = MC for both types of firms.
• B) P = MR = MC for firms in perfect competition, and P > MR = MC for firms in monopolistic competition.
• C) MR = MC for firms in perfect competition and MR > MC for firms in monopolistic competition.
• D) P > MR = MC for firms in both perfect competition and monopolistic competition.
• E) P = ATC always for firms in both perfect competition and monopolistic competition.

---

Definitions:

Heartbeat

The rhythmic contraction and expansion of the heart, which pumps blood throughout the body.

Clinical Death

The cessation of blood circulation and breathing, often considered as a medical criterion for death.

Breathing

The physiological process of inhaling oxygen and exhaling carbon dioxide from the atmosphere, essential for life in most organisms.

Concept Of Death

The understanding and awareness of mortality, its inevitability, and the irreversible cessation of all biological functions that sustain life.