Question #106973
Using the axis Depict the marginal revenue and marginal cost curve with the conclusion that the optimal short run output is q = 1000
1
Expert's answer
2020-03-30T07:33:16-0400

If the industry is perfectly competitive, then marginal revenue (MR) curve is horizontal, marginal cost (MC) curve is upward-sloping, they will intersect (MR = MC) at the optimal short run output q = 1000.


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