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The optimal range of output for a perfectly competitive firm is

Economics
JAMB 2011

The optimal range of output for a perfectly competitive firm is

  • A. AC is lowest
  • B. AVC is lowest
  • C. MC is rising
  • D. MC is falling
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Correct Answer: Option D
Explanation

The key goal for a perfectly competitive firm in maximizing its profits is to calculate the optimal level of output at which its Marginal Cost (MC) = Market Price (P). Output will be optimal where MC is falling

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