What is the objective of firms in a perfect competitive market?
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Explanation:
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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this objective of firms in a perfect competitive market is known as the minimum supporting price...❤️
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