Complete the statements below.
In a perfectly competitive firm in the long run:
(a) Profit maximisation occurs at the point where price is equal to:
(b) Average revenue is equal to:
(c) The efficient output level occurs at minimum:

(i) average cost.
(ii) marginal cost.
(iii) marginal revenue.

Question

Complete the statements below.
In a perfectly competitive firm in the long run:
(a) Profit maximisation occurs at the point where price is equal to:
(b) Average revenue is equal to:
(c) The efficient output level occurs at minimum:

(i)	average cost.
(ii)	marginal cost.
(iii)	marginal revenue.

Quizplus · Accepted Answer

The Answer of Complete the statements below.
In a perfectly competitive firm in the long run:
(a) Profit maximisation occurs at the point where price is equal to:
(b) Average revenue is equal to:
(c) The efficient output level occurs at minimum:

(i)	average cost.
(ii)	marginal cost.
(iii)	marginal revenue.

Complete the Statements Below