As long as it does NOT shut down, a perfectly competitive firm earns the maximum profit as long as it operates so that

Name: As long as it does NOT shut down, a perfectly competitive firm earns the maximum profit as long as it operates so that
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Question

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In perfect competition, firms maximize profit by producing where marginal revenue equals marginal cost, as this is the point where the cost of producing an additional unit is exactly covered by the revenue it generates.

As Long as It Does NOT Shut Down, a Perfectly