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).

Previous Question

Next Question

Similar questions

Physics, 7 months ago

Kyphosis can be corrected by- ...

Math, 7 months ago

3. There is a rectangular field measuring 90 m by 30 m. Three roads each of 2 m width pass through the field as shown in the adjoining figure. Find : (a) the area of the field covered by three roads. (b) the area of the field not covered by the roads. arallel...

Math, 7 months ago

21. Simplify : [2√2 + 3√3] [2√2 - 3√3)...

Math, 1 year ago

P and Q are respectively the mid- point of sides AB and BC of a triangle ABC and R is the mid- point of AP,show that. (1). ar( PRQ)=1/2ar(ARC). (2). ar(RQC)=3/8ar(ABC). (3). ar(PBQ)=ar(ARC).

English, 1 year ago

Chose the word For The blank He was looking at Us ,'----------...

History, 1 year ago

what is the name of Chanakya guru...

Chemistry, 1 year ago

substance used to make electric iron electrically insulated...

Chemistry, 1 year ago

Define change in color...