In a competitive market with four firms (indicated as Firm 1, Firm 2, Firm 3, and Firm 4), which of the following is the condition that enables all sellers to maximize profit?
A. P = ATC for all firms
B. Profit = Total Revenue - Total Cost for all firms
C.
D. MC is minimized in all firms.

Question

In a competitive market with four firms (indicated as Firm 1, Firm 2, Firm 3, and Firm 4), which of the following is the condition that enables all sellers to maximize profit?
A. P = ATC for all firms
B. Profit = Total Revenue - Total Cost for all firms
C.  
D. MC is minimized in all firms.

Quizplus · Accepted Answer

The Answer of In a competitive market with four firms (indicated as Firm 1, Firm 2, Firm 3, and Firm 4), which of the following is the condition that enables all sellers to maximize profit?
A. P = ATC for all firms
B. Profit = Total Revenue - Total Cost for all firms
C.  
D. MC is minimized in all firms.

In a Competitive Market with Four Firms (Indicated as Firm