Business, 18.10.2019 00:30 marcgtz511p3pln7
The equality of marginal revenue and marginal cost is essential for profit maximization in all market structures because when this is true the
a. last unit produced adds more to costs than to revenue, and its production must necessarily increase profits or reduce losses.
b. firms make a profit.
c. the last unit produced adds more to revenue than to costs, and its production must necessarily increase profits or reduce losses.
d. firms experience the law of diminishing marginal returns.
Answers: 2
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The equality of marginal revenue and marginal cost is essential for profit maximization in all marke...
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