The profit-maximizing level for all firms, regardless of industry structure, is the output level where
A) TR = MC.
B) P = MC.
C) ATC = P.
D) MC = MR.

Question

Quizplus · Accepted Answer

The profit-maximizing level for all firms, regardless of industry structure, is the output level where Marginal Cost (MC) equals Marginal Revenue (MR). This principle applies across different market structures, including perfect competition, monopoly, monopolistic competition, and oligopoly.

The Profit-Maximizing Level for All Firms, Regardless of Industry Structure