Economy, asked by arindomleo, 1 year ago

what does a firm wish to achieve? what three conditions must hold for a profit maximising firm in the short-run?

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Answered by Anonymous

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).

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