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When a perfectly competitive firm is at its profit maximizing level of output you can say that it is?
Wiki User
∙ 11y ago
is producing where price exceeds marginal costs
Wiki User
∙ 11y ago
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When a perfectly competitive firm is at its profit maximising level of output it is?
maximizing the difference between total revenue and total cost
How do you find profit maximizing level of output?
The best way to find the profit maximizing level of to calculate it using the profit maximizing formula. To calculate it you need to know margins and how long it takes you to do each task.
How do you calculate the profit maximizing output level given a total revenue and total cost function?
how to calculate profit maximizing water level under quadratic cost function
The level of profit maximizing output is reached when marginal cost is?
equal to marginal revenue
When profit is maximized in a perfectly competitive firm?
At the output level at which the slopes of the total revenue and total cost curves are equal, provided the firm is covering its variable cost
When a perfectly competitive firm is at its profit maximising level of output it is?
maximizing the difference between total revenue and total cost
How do you find a monopolist's profit maximising...?
The monopolist's profit maximizing level of output is found by equating its marginal revenue with its marginal cost, which is the same profit maximizing condition that a perfectly competitive firm uses to determine its equilibrium level of output. Indeed, the condition that marginal revenue equal marginal cost is used to determine the profit maximizing level of output of every firm, regardless of the market structure in which the firm is operating.
What is the profit maximizing decision a perfectly competitive firm makes in the short run and explain why this firm can make profits in the short run but not in the long run?
A perfectly competitive firm maximizes profit in the short run by producing the quantity where marginal cost equals marginal revenue. In the short run, firms can make profits due to price fluctuations and temporary market conditions, but in the long run, new firms can easily enter the market, increasing competition and driving down prices to the point where economic profits are reduced to zero.
If P equals 8 and MC equals 5 plus 0.2Q the competitive firm's profit-maximizing level of output is?
27.908763334678123
How do you find profit maximizing level of output?
The best way to find the profit maximizing level of to calculate it using the profit maximizing formula. To calculate it you need to know margins and how long it takes you to do each task.
How do you calculate the profit maximizing output level given a total revenue and total cost function?
how to calculate profit maximizing water level under quadratic cost function
The level of profit maximizing output is reached when marginal cost is?
equal to marginal revenue
When profit is maximized in a perfectly competitive firm?
At the output level at which the slopes of the total revenue and total cost curves are equal, provided the firm is covering its variable cost
What does profit maximizing quantity of output mean?
Its the level of production where marginal cost is equal to marginal revenue.
What are the essential elements of the basic competitive model?
rational, self interested consumers rational, profit maximizing firms competitive markets with price taking behavior
If competitive industry Z is making substantial economic profit output will?
if competative industry z is making substantial economic profit, output will:
The profit-maximizing level of output for this firm?
Answers for If A Firm Is Producing A Level Of Output Where MR Exceeds MC, Would It Improve Profits By Increasing Output, Decreasing Output Or Keeping Output Unchanged?
