A perfectly competitive firm is producing more than the profit-maximizing amount of its product. You can conclude that its

Name: A perfectly competitive firm is producing more than the profit-maximizing amount of its product. You can conclude that its
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Question

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In perfect competition, firms maximize profit where marginal cost equals marginal revenue (which is also the price). If producing more than this quantity, marginal cost exceeds the price.

A Perfectly Competitive Firm Is Producing More Than the Profit-Maximizing