If profits are maximized (or losses minimized), which of the following conditions is common to both unregulated monopoly and pure competition?
A) MC = P
B) MC = ATC
C) MR = MC
D) P = MR

Question

Quizplus · Accepted Answer

Both unregulated monopolies and firms in pure competition maximize profits or minimize losses when marginal revenue (MR) equals marginal cost (MC).

If Profits Are Maximized (Or Losses Minimized), Which of the Following