Marginal revenue equals marginal cost

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A firm maximizes its profit by producing output up to the point where marginal revenue equals marginal cost

a. when the market is perfectly competitive, monopolistically competitive, or monopolistic.

b. only when the market is a monopoly or monopolistically competitive.

c. only when the market is monopolistically competitive or perfectly competitive.

d. only when the market is a monopoly.

Reference no: EM13695985

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