Economics: Principles, Problems, and Policies, 19th Edition

Published by McGraw-Hill Education
ISBN 10: 0073511447
ISBN 13: 978-0-07351-144-3

Chapter 8 - Pure Competition in the Short Run - Quick Quiz for Figure 8.3 - Page 170: 3

Answer

Produce where total revenue exceeds total cost by the greatest amount

Work Step by Step

A firm will produce where Marginal Revenue = Marginal Cost. This is the profit maximizing point and this total revenue exceeds total cost by the greatest amount, attributing to the largest possible profit that can be made.
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