When marginal cost equals average variable cost, the firm is at ______ as the firm is only able to cover variable cost.

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Microeconomics

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Explain and Analyze Efficiency in Perfect Competitive Markets

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Paramjeet ChawlaLv8

30 Oct 2020

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Related questions

29. Every firm maximizes profit where a. average revenue equals average total cost. b. average revenue equals average variable cost. c. total revenue equals total cost. d. marginal revenue exceeds marginal cost by the greatest amount. e. marginal revenuc equals marginal cost.

A profit-maximizing firm in the short run will expand output:

A. Until marginal cost begins to rise
B. Until total revenue equals total cost
C. Until marginal cost equals average variable cost
D. As long as marginal revenue is greater than marginal cost