When price and marginal cost are equal for a perfectly competitive firm, the firm is

Name: When price and marginal cost are equal for a perfectly competitive firm, the firm is
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In a perfectly competitive market, when a firm's price equals its marginal cost, it is maximizing economic profit. This is because, at this point, the firm cannot increase profit by producing more or less; producing more would add more to cost than to revenue, and producing less would forego some profit.

When Price and Marginal Cost Are Equal for a Perfectly