Question:
Profits are maximized when the firm
| A. |
captures the largest market share in its market |
B. |
produces at an output level where marginal revenue exceeds marginal cost |
C. |
produces at the output level where marginal revenue equals marginal cost |
D. |
produces at the output level where total revenue is maximized |
Answer» c. produces at the output level where marginal revenue equals marginal cost |
| Note: |
The above multiple-choice question is for all general and Competitive Exams in India. |
