The MR = MC rule applies
A) to firms in all types of industries.
B) only when the firm is a "price taker."
C) only to monopolies.
D) only to purely competitive firms.

Name: The MR = MC rule applies A) to firms in all types of industries. B) only when the firm is a "price taker." C) only to monopolies. D) only to purely competitive firms.
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Question

Quizplus · Accepted Answer

The MR = MC rule applies to firms in all types of industries as it is a fundamental principle for profit maximization, regardless of the market structure.

The MR = MC Rule Applies