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Which is the first-order condition for the profit of a firm to be maximum?

September 27, 2022
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Which is the first-order condition for the profit of a firm to be maximum?

Q.       Which is the first-order condition for the profit of a firm to be maximum?

  1. AC = MR    
  2. MC = MR
  3. MR = AR   
  4. AC = AR

Answer: MC = MR

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