By comparing marginal revenue and marginal cost,a firm in a competitive market is able to adjust production to the level that achieves its objective.What do we assume the objective to be

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In a competitive market, firms aim to maximize their profits. By comparing marginal revenue and marginal costs, a firm can determine the level of output that results in the highest profit. Maximizing total revenue or minimizing costs may not necessarily lead to the highest profit.

By Comparing Marginal Revenue and Marginal Cost,a Firm in a Competitive