A market structure where profit is maximized when margina...
A market structure where profit is maximized when marginal revenue, marginal cost and price are equal is known as
Perfect competition
Monopoly
Oligopoly
Imperfect competition
Correct answer is A
In order to maximize profits in a perfectly competitive market, firms set marginal revenue equal to marginal cost (MR=MC). MR is the slope of the revenue curve, which is also equal to the demand curve (D) and price.
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