Figure 7.2:
-In Figure 7.2,if this industry is competitive,the profit-maximizing level of output is:

Name: Figure 7.2: -In Figure 7.2,if this industry is competitive,the profit-maximizing level of output is:
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Question

Figure 7.2: 
-In Figure 7.2,if this industry is competitive,the profit-maximizing level of output is:

Quizplus · Accepted Answer

In a competitive market, firms maximize profit where marginal cost (MC) equals marginal revenue (MR). If the graph shows MC crossing MR between 3 and 4 units, the profit-maximizing output is between these quantities.

Figure 7.2: -In Figure 7.2,if This Industry Is Competitive,the Profit-Maximizing Level of Profit-Maximizing