Multiple Choice
The table given below shows the price of each unit of the product manufactured by a firm and the marginal cost of producing different units of the output.Table: 10.1
-In which of the following situations will the profit of a perfectly competitive firm always increase with an increases in its output?
A) When price is greater than marginal revenue
B) When price is less than marginal revenue
C) When price is greater than marginal cost
D) When price is less than marginal cost
E) When price is equal to marginal cost
Correct Answer:

Verified
Correct Answer:
Verified
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