The Competitive Firm Maximizes Its Profit by Operating at the Point

question 90

Multiple Choice

The competitive firm maximizes its profit by operating at the point where _____ and price is greater than average variable cost.

• A)average cost is at a minimum
• B)total revenue is at a maximum
• C)profit per unit is at a maximum
• D)marginal cost equals price

---

Definitions:

Trust

The confidence in the reliability, truth, ability, or strength of someone or something, crucial for building healthy relationships and effective teams.

Talented People

Individuals possessing exceptional skills, abilities, or knowledge in specific areas that contribute significantly to organizational or project success.

Leadership

The art of motivating a group of people towards achieving a common goal.

Coercive Power

A form of power that is based on the ability to deliver punishments or impose penalties.