Multiple Choice
If it does not shut down,a perfectly competitive firm produces where marginal cost is equal to the marginal revenue
A) only in the short run.
B) only in the long run.
C) always to maximize its profit.
D) only if it is not possible to produce where price equals average variable cost.
E) only if it is not possible to produce where price is greater than average total cost.
Correct Answer:
Verified
Correct Answer:
Verified
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