Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. for a perfectly competitive firm, profit maximizat

For a perfectly competitive firm, profit maximization occurs when output is such that...

50.1K

Verified Solution

Question

Accounting

image

For a perfectly competitive firm, profit maximization occurs when output is such that total revenue (TR) is maximized. total cost (TC) is minimized. marginal revenue (MR)= marginal cost (MC). average total cost (ATC) is minimized. Question 35 2 pts For a single-price monopolist, why is marginal revenue less than price? this statement is false, because marginal revenue is always equal to price to sell another unit, the price must be lowered demand is elastic when another unit is sold demand is inelastic when another unit is sold

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

Steve Reese is a well-known interior designer in Fort Worth,Texas. He wants to start...

Medical Sciences
1.2K views

3 a. If you drank a bottle of water, how would this affect the osmolarity of...

Chemistry
1.2K views

A certain substance X has a normal boiling point of 101.5°C and a molar boiling point...

Biology
1.2K views

(2points) Explain the difference between essential and nonessential amino acids. Please defineboth. How many of...

Biology
1.2K views

Sacramento has a current temperature of 10 C and a relative humidity of 50 What...

Physics
1.2K views

A particle of charge Q is executing uniform circular motion about the origin with an...

Algebra
1.2K views

Which function describes this graph 10 10 10 Click here for long description O A...

Accounting
1.2K views

Flounder Inc. reported the following partial statement of income data for the years ended December...

Accounting
1.2K views

Milani, Inc., acquired 10 percent of Seida Corporation on January 1,2020, for $195,000 and appropriately...

Finance
1.2K views

The production line would be set up in unused space in Solomons' main plant. The...

Accounting
1.2K views

Tamarisk Inc. wishes to lease machinery to Thiensville Company. Thiensville wants the machinery for 4...

Finance
1.2K views

An annuity immediate has semi-annual payments of 800,750,700,,350 at i(2)=0.16. If a100.08=A, find the present...