Both a perfectly competitive firm and a monopolist find that:
A)price and marginal revenue are the same.
B)they can sell as many units of output as they want at the market price.
C)it is best to expand production until the benefit and the cost of the last unit produced are equal.
D)price is less than marginal revenue.

Question

Quizplus · Accepted Answer

All firms maximize profit by expanding output whenever the marginal benefit of producing an additional unit exceeds its marginal cost.

Both a Perfectly Competitive Firm and a Monopolist Find That