16. In the short run, the profit maximization for a firm in a perfectly competitive market would be: the marginal revenue is equal to the market price the marginal revenue is equal to the average revenue The market price is equal to the marginal cost O the marginal revenue is greater than the marginal cost
16. In the short run, the profit maximization for a firm in a perfectly competitive market would be: the marginal revenue is equal to the market price the marginal revenue is equal to the average revenue The market price is equal to the marginal cost O the marginal revenue is greater than the marginal cost
Chapter12: Firms In Perfectly Competitive Markets
Section: Chapter Questions
Problem 14P
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![16. In the short run, the profit maximization for a firm in a perfectly competitive market would
be:
the marginal revenue is equal to the market price
the marginal revenue is equal to the average revenue
The market price is equal to the marginal cost
O the marginal revenue is greater than the marginal cost](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb803c272-7ed1-4830-b7a3-3aa23726428f%2Fe0ce39a0-1c2c-4aa3-96f6-1f4a80d963c7%2Fe08gz5e_processed.jpeg&w=3840&q=75)
Transcribed Image Text:16. In the short run, the profit maximization for a firm in a perfectly competitive market would
be:
the marginal revenue is equal to the market price
the marginal revenue is equal to the average revenue
The market price is equal to the marginal cost
O the marginal revenue is greater than the marginal cost
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