Ask Question
BusinessBusiness
20 April, 07:48

In the short run, perfectly (or purely) competitive firms will maximize their profit by producing (select all options that apply) :

+2
Answers (1)
  1. 20 April, 08:02
    0
    In the short run, perfectly (or purely) competitive firms will maximize their profit by producing: the quantity where marginal revenue = marginal cost and where quantity when the price = marginal cost.

    A perfectly competitive firm is a theoretical market structure when all firms sell the same product where there is no influence on the price that consumers pay. Marginal revenue is the additional revenue that a company earns by increasing their production by one more cost. Marginal cost refers to the cost added by producting one more product.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “In the short run, perfectly (or purely) competitive firms will maximize their profit by producing (select all options that apply) : ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
A firm's profit margin is 5 percent, its debt/assets ratio is 56 percent, and its dividend payout ratio is 40 percent. If the firm is operating at less than full capacity.
Answers (1)
Under the accrual basis of accounting, many of the account balances in the ledger at the end of the accounting period are reported in the financial statements without change. Some accounts require updating, though.
Answers (1)
hich statement about the format of a business letter is most accurate? a. Legal agreements are invalid if they do not demonstrate the correct letter format. b. All business letters will use the block formatting style. c.
Answers (1)
Parents who invest a lot in their child financially can expect to earn back their investment later in life, when their children are able to comfortably support them in old age. True False
Answers (1)
Making water available for future generations without harming the hydrologic cycle is termed ___ water use. A Option A: sustainable B Option B: artificial C Option C: inexpensive D Option D: analogous
Answers (1)
New Questions in Business
The account "Warranty Liability": is adjusted at the end of the year. is credited each time a warranty repair is made. has a year-end credit balance equal to the cost of warranty repairs made during the year. is closed at the end of the year.
Answers (1)
What percentage of U. S. households have no access to banking services? A) 8 percent B) 10 percent C) 15 percent D) 50 percent
Answers (1)
Gina Davidson has received $50,000 in a divorce settlement and is trying to decide how to invest it. She has looked at stocks but knows that some stocks have lost a lot of value for their owners recently.
Answers (2)
Milo, a highly successful attorney, just received a $200 ticket for speeding. jim, an unemployed father of six, received a $50 fine for parking in a restricted area.
Answers (1)
A business purchases equipment by paying $6,276 in cash and issuing a note payable of $19,177. Which of the following occurs? Select one: A. Cash is credited for $6,276, Equipment is credited for $25,453, and Notes Payable is debited for $19,177. B.
Answers (1)
Home » Business » In the short run, perfectly (or purely) competitive firms will maximize their profit by producing (select all options that apply) :
Sign Up Forgot Password?