Multiple Choice
In a competitive market with four firms (indicated as Firm 1, Firm 2, Firm 3, and Firm 4) , which of the following is the condition that enables all sellers to maximize profit?
A) P = ATC for all firms
B) Profit = Total Revenue - Total Cost for all firms
C) P = MC1 = MC2 = MC3 = MC4
D) MC is minimized in all firms.
Correct Answer:
Verified
Correct Answer:
Verified
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