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If a perfectly competitive firm wanted to maximize its total revenues, it would produce Group of answer choices The output where the ATC curve is at a minimum. The output where the marginal cost curve is at a minimum. As much as it is capable of producing. None of the Answers are Correct. The output where MC equals price.

Sagot :

If a perfectly competitive firm wanted to maximize its total revenues, it would produce As much output as it is capable of producing.

Can a perfectly competitive firm increase revenue?

As long as it accepts the going market price, a perfectly competitive company is free to sell as much as it likes. A company's overall revenue will rise if it sells more units at a given price. Total sales will increase if the product's price rises with each unit sold.

How does a business with perfectly competitive determine its entire revenue?

A straight line sloping up depicts the total revenue for a corporation that is perfectly competitive. The slope is the same as the item's cost. Although with some curvature, total cost similarly slopes upward. Due to diminishing marginal returns, overall cost starts to climb more sharply at increasing output levels.

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