A purely competitive firm whose goal is to maximize profit will choose to produce the amount of output at which

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19-12-2022
Business

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A purely competitive firm whose goal is to maximize profit will choose to produce the amount of output at which

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JitSen257 JitSen257 · Answer 1 · 2022-12-26T04:45:33-05:00

At the output level where marginal revenue and marginal cost are equal, or MR = MC, the choice that maximizes profits for a firm with no competition will be made.

How does the company that is only competitive make the most of its profits?

Calculating the optimal output level at which Marginal Cost (MC) = Market Price (P) is the company's primary objective for maximizing profits in a highly competitive market The point where MC, MR, or P meet is the profit maximization point, as depicted in the graph above.

When a perfectly competitive company is producing at its profit-maximizing output level, it?

Producing output at a level at which the marginal revenue for the final unit produced equals its marginal cost, or MR = MC, maximizes a company's total profit. For each output level, MR equals the market price P in a perfectly competitive market.

To learn more about marginal revenue and marginal cost here:

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