-The figure above shows the marginal revenue and costs of a perfectly competitive firm. The firm's profit is maximized when the firm produces

Name: -The figure above shows the marginal revenue and costs of a perfectly competitive firm. The firm's profit is maximized when the firm produces
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In a perfectly competitive market, profit is maximized when marginal cost (MC) equals marginal revenue (MR). The figure indicates that this occurs at 170 units of output.

-The Figure Above Shows the Marginal Revenue and Costs of a Perfectly