Answer to Question #209928 in Economics for Siyabonga Mkhonza

Question #209928

the term for the following statements


Business that do not maximise output from the given inputs?


1
Expert's answer
2021-06-23T09:34:59-0400

The profit-maximizing choice for a perfectly competitive firm will occur at the level of output where marginal revenue is equal to marginal cost—that is, where MR = MC.


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