The goal of the perfectly competitive firm is to

Name: The goal of the perfectly competitive firm is to
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The perfectly competitive firm's goal is to maximize total profits by producing at the quantity where marginal revenue equals marginal cost. This results in producing at the efficient scale, where ATC is at its lowest point. Minimizing AFC or ATC alone does not necessarily lead to maximum profits. Maximizing total revenue may not be the best goal if it leads to losses due to high costs.

The Goal of the Perfectly Competitive Firm Is to