Multiple Choice Questions on In perfect competition a rm maximizes pro t by ........ for SSC CHSL Preparation

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Multiple Choice Questions

In perfect competition a rm maximizes pro t by ........

General Studies (CHSL) Indian Economy
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    In perfect competition a ?rm maximizes pro?t by ...............
    setting price  such that  price  is equal to or greater than its marginal costs
    Incorrect Answer

    setting output such that  price  equals average total  costs

    Incorrect Answer
    setting output such that  price  equals marginal costs
    Correct Answer
    setting price  so that  it is greater than marginal cost
    Incorrect Answer
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    Explanation:
    The profit-maximizing choice for a perfectly competitive firm will occur at the level of output where marginal revenue is equal to marginal cost—that is, where MR = MC.

    By: Barka Mirza
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