Multiple Choice
If, for the last unit of a good produced by a perfectly competitive firm, MR > MC, then in producing that unit the firm
A) added more to total costs than it added to total revenue.
B) added more to total revenue than it added to total costs.
C) added an equal amount to both total revenue and total costs.
D) maximized profits or minimized losses.
Correct Answer:
Verified
Correct Answer:
Verified
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