Question

A firm is in equilibrium where MC=MR and MC curve cuts MR curve from below?
O TRUE
O FALSE
O Sometimes true but not necessary conditions.
O MC and MR curves are irrelevant.​

Answer 1

Answer:

Gross profits are maximized only when a firm's MC curve cuts the MR curve from below as because when MC curve lies below the MR curve, in that situation MC< MR.

False.

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