Business Studies, asked by dukedom1803, 11 months ago

How a firm maximise its profit under perfect competition?

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Answered by cmanoj5511

2

Answer:

Profit Maximization. In order to maximize profits in a perfectly competitive market, firms set marginal revenue equal to marginal cost (MR=MC). MR is the slope of the revenue curve, which is also equal to the demand curve (D) and price (P). ... When price is greater than average total cost, the firm is making a profit.

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