In the standard model of pure competition in the short run, a profit-maximizing firm will produce the output quantity where the gap between
A) marginal revenue and marginal cost is the largest, with revenue higher than cost.
B) average revenue and average cost is the largest, with revenue higher than cost.
C) total revenue and total cost is the largest, with revenue higher than cost.
D) average revenue and average variable cost is the largest.

Question

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The Answer of In the standard model of pure competition in the short run, a profit-maximizing firm will produce the output quantity where the gap between
A) marginal revenue and marginal cost is the largest, with revenue higher than cost.
B) average revenue and average cost is the largest, with revenue higher than cost.
C) total revenue and total cost is the largest, with revenue higher than cost.
D) average revenue and average variable cost is the largest.

In the Standard Model of Pure Competition in the Short