The MR = MC rule applies
A)in the short run but not in the long run.
B)in the long run but not in the short run.
C)in both the short run and the long run.
D)only to a purely competitive firm.

Question

Quizplus · Accepted Answer

The MR = MC (Marginal Revenue equals Marginal Cost) rule applies to firms in both the short run and the long run, regardless of the market structure, as it is a condition for profit maximization.

The MR = MC Rule Applies