Economy, asked by haya124khan, 1 year ago

Show that a perfectly competitive firm maximise its profit only when price=MC?

Answers

Answered by nhkmk786

As the objective of each perfectly competitive firm, they choose each of their output levels to maximize their profits. The key goal for a perfectly competitive firm in maximizing its profits is to calculate the optimal level of output at which its Marginal Cost (MC) = Market Price (P).

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