(Solved by Humans)-A profit-maximizing perfect competitor is setting an output of

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Academic Level: Undergrad. (yrs 3-4)

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Pages: 5 Words: 1375

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Question

A profit-maximizing perfect competitor is setting an output of 100 per day. Which of the following statements is?false?

a)?Its marginal revenue and marginal cost curves must intersect at an output of 100 per day.

b)?If it increased its output to 101, then its revenue would rise by less than its costs.

c)?If it decreased its output to 99, then its revenue would fall by more than its costs.

d)?It must be earning the highest total revenue that it could earn.

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