Home › MCQs › Agriculture Economics › Question #11872
Back to Questions
Agriculture Economics QUESTION #11872
Question 1
The profit-maximizing level of output for a competitive firm occurs where:
  • $MR = MC$✔️
  • $MR = AC$
  • $TR = TC$
  • $AVC = AFC$
Correct Answer Explanation
The universal profit-maximizing rule is that marginal revenue equals marginal cost, $MR = MC$.