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g When ________, a competitive firm will produce and earn economic profits. Group of answer choices marginal revenue is rising marginal revenue

Sagot :

Answer:

marginal revenue is above average costs

Explanation:

Perfectly competitive market is the market where there are large no of buyer  and sellers who sells and buys same kind of products . The Prices are decided by forces of demand and supply.

This price is equivalent to marginal revenue of one firm.

A profit maximising firm generates the quantity at the time when MR and MC curve intersect with each other. The firm could earn economic profit at the time when price pr marginal revenue is above average total cost  

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