What condition must be met for a firm to maximize profit in the long run under perfect competition ........

Economics (CUET) Theory of firm under perfect Competition

What condition must be met for a firm to maximize profit in the long run under perfect competition?

Price equals average cost (AC).

Price equals marginal cost (MC).

Price is greater than average variable cost (AVC).

Price equals total cost (TC).

Profit is maximized when the price equals marginal cost (MC) so that no additional profit can be made from producing more or less.

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