Consider a Firm That Operates in a Perfectly Competitive Market

Multiple Choice

Consider a firm that operates in a perfectly competitive market. The firm is producing at its profit maximizing output level. If this is true, then

A) ​average revenue is maximized.
B) ​the firm must be earning a positive economic profit.
C) ​marginal revenue is greater than the market price.
D) ​price must be equal to marginal cost.