Refer to the accompanying figure.Point ________ corresponds to the profit-maximizing quantity that a firm in a competitive industry would produce.

Question

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Point C corresponds to the profit-maximizing quantity that a firm in a competitive industry would produce, which is where marginal cost (MC) intersects with marginal revenue (MR). At this point, the firm is producing the quantity where the cost of producing an additional unit is equal to the revenue generated by selling that unit, maximizing profit.

Refer to the Accompanying Figure