Q293
A competitive firm maximizes profit at the output level where
A.
Price equals marginal cost
B.
The slope of the firm's profit function is equal to zero
C.
Marginal revenue equals marginal cost
D.
All of the above
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
A competitive firm maximizes profit at the output level where Price equals marginal cost, The slope of the firm's profit function is equal to zero and Marginal revenue equals marginal cost.