In perfect competition a firm maximizes profit by ________.

Question

TuteeHUB · Accepted Answer

Setting price so that it is greater than marginal cost.

TuteeHUB · Answer

Setting price such that price is equal to or greater than its marginal costs.

TuteeHUB · Answer

Setting output such that price equals average total costs.

TuteeHUB · Answer

Setting output such that price equals marginal costs.

1.	In perfect competition a firm maximizes profit by ________.
A.	Setting price such that price is equal to or greater than its marginal costs.
B.	Setting output such that price equals average total costs.
C.	Setting output such that price equals marginal costs.
D.	Setting price so that it is greater than marginal cost.
Answer» D. Setting price so that it is greater than marginal cost.

Discussion