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The best, or optimum, level of output for a perfectly competitive firm is given by the pointwhere

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Question:

The best, or optimum, level of output for a perfectly competitive firm is given by the pointwhere

A.

MR equals AC

B.

MR equals MC

C.

MR exceeds MC by the greatest amount

D.

MR equals MC and MC is rising.

Answer» d. MR equals MC and MC is rising.

Note: The above multiple-choice question is for all general and Competitive Exams in India.