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Both a Price Taker and a Price Searcher Maximize Profits

Question 71

Multiple Choice

Both a price taker and a price searcher maximize profits (or minimize losses) by producing the quantity of output at which __________ equals __________.


A) total revenue; total cost
B) average total cost; price
C) average variable cost; marginal cost
D) marginal revenue; marginal cost
E) marginal cost; average fixed cost

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