The profit-maximizing level for all firms in ________ is the output level where MC = MR.
A) only perfectly competitive industries
B) only monopoly industries
C) only large industries
D) any industry

Question

Quizplus · Accepted Answer

The profit-maximizing level for firms in any industry, regardless of market structure, is where marginal cost (MC) equals marginal revenue (MR). This principle applies across different types of markets, including perfect competition, monopoly, monopolistic competition, and oligopoly.

The Profit-Maximizing Level for All Firms in ________ Is the Output