At the Profit-Maximising Level of Output for a Perfectly Competitive

question 241

Multiple Choice

At the profit-maximising level of output for a perfectly competitive firm,

• A)price equals marginal cost.
• B)average revenue equals average variable cost, and price equals marginal cost.
• C)marginal revenue equals marginal cost, and average total cost equals average fixed cost.
• D)price equals average revenue, and marginal cost equals average variable cost.

---

Definitions:

Career Choice

The process of deciding on a specific path or direction for one's professional life.

RIASEC

A model also known as Holland Codes, categorizing career choices and work environments into six general types: Realistic, Investigative, Artistic, Social, Enterprising, and Conventional.

Practical

Concerned with the actual doing or use of something rather than with theory and ideas.

Traditional

Pertaining to customs, beliefs, or practices that have been passed down through generations or have been established by long usage.