A competitive firm maximizes profit by choosing the quantity at which.

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03-06-2022
Business

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A competitive firm maximizes profit by choosing the quantity at which.

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suchetasVT suchetasVT · Answer 1 · 2022-06-17T17:51:00+02:00

Profit maximization can be achieved by a competitive corporation by choosing a quantity of output such that marginal revenue equals marginal cost.

How does a corporation maximize its profit?

A corporation maximizes income via way of means of operating wherein marginal revenue equals marginal price. The corporation chooses quantity in order for that rate to equal marginal value so that it can maximize its profit.

Therefore, When the marginal revenue for an aggressive corporation equals the market rate, the firm maximizes its profit.

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