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Question
A perfectly competitive firm will maximize profits when
A) average cost is greater than marginal revenue.
B) marginal cost is greater than marginal revenue.
C) marginal cost is equal to marginal revenue.
D) average cost is equal to average revenue.
Answer
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Related questions
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The United Statesʹ balance of payments is likely to improve whenA) there is an increase in political instability in other countries.B) the inflation rate in the United States rises relative to other countries.C) the American government increases its spending on foreign aid. D) American people want to invest more in foreign countries.