Homework Help: microeconomics

Posted by mary on Saturday, November 27, 2010 at 8:31pm.

In order to maximize profits or minimize losses, a competitive firm will produce at the point where MC = MR. Do you agree or disagree with this statement?

* i am thinking that i would agree because firms have to reach a equilibrium to off set the losses and gains.

*can you add any other information to clarify this statement. what would be the most accurate way to resolve this. thank you.

No one has answered this question yet.

Answer this Question

Related Questions

economics - The graph on the left shows the short-run marginal cost curve for a ...
microeconomics - at point where MR=MC, when the firm incurs losses in the short ...
Economics - For the following characteristic say whether it describes a ...
microeconmics - intro to microecnomics, easy, not enough time to do! twenty ...
Microeconomics - 3. Suppose that a business incurred implicit costs of $500,000 ...
economics - A monopolist faces market demand given by P = 200 â€“...
Economics - 50. In both monopolistic competition and non-price-discriminating ...
Economics - Hey just needed some pointers on the following questions. True or ...
Economics - You own four firms that produce different products. The following ...
college econ - You own four firms that produce different products. The following...

For Further Reading

First Name:
School Subject:
Answer: