At the Profit-Maximizing Level of Output for a Perfectly Competitive

Multiple Choice

At the profit-maximizing level of output for a perfectly competitive firm,

A) price equals marginal cost.
B) average revenue equals average variable cost, and price equals marginal cost.
C) marginal revenue equals marginal cost, and average total cost equals average fixed cost.
D) price equals average revenue, and marginal cost equals average variable cost.