If a firm is producing a level of output where marginal cost is equal to marginal revenue, then
A) profit is at a maximum if marginal cost has a negative slope and marginal revenue is horizontal.
B) profit is at a minimum if marginal cost has a negative slope and marginal revenue is horizontal.
C) profit is at a maximum if average revenue is greater than average cost.
D) profit is at a minimum if average revenue is greater than average cost.

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The Answer of If a firm is producing a level of output where marginal cost is equal to marginal revenue, then
A) profit is at a maximum if marginal cost has a negative slope and marginal revenue is horizontal.
B) profit is at a minimum if marginal cost has a negative slope and marginal revenue is horizontal.
C) profit is at a maximum if average revenue is greater than average cost.
D) profit is at a minimum if average revenue is greater than average cost.

If a Firm Is Producing a Level of Output Where