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Exhibit: A Perfectly Competitive Firm in the Short Run

-(Exhibit: A Perfectly Competitive Firm in the Short Run) The firm's total cost of producing its most profitable level of output is:

Question

Use the following to answer question(s): 
Exhibit: A Perfectly Competitive Firm in the Short Run
 
-(Exhibit: A Perfectly Competitive Firm in the Short Run) The firm's total cost of producing its most profitable level of output is:

Quizplus · Accepted Answer

In the short run, the firm produces where marginal cost equals marginal revenue, which is at the output level where the TC curve is at its minimum point, 0FKD. Thus, the total cost of producing its most profitable level of output is 0FKD.

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