26 - What is the maximum profit condition in a perfectly competitive market?    a) TC

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter8: Perfect Competition
Section: Chapter Questions
Problem 14RQ: How does a perfectly competitive firm decide what price to charge?
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26 -

What is the maximum profit condition in a perfectly competitive market?

 
 a)

TC<MR

 B)

MC=MR

 C)

P<AC

 D)

AC=AR

 TO) TC=TR
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