Answer to Question #85891 in Microeconomics for Ayanda Lubisi

Question #85891
Every firm maximises profit when …
1. average revenue equals average cost.
2. average revenue equals average variable cost.
3. total costs are minimised.
4. marginal revenue equals marginal cost.
1
Expert's answer
2019-03-06T05:34:45-0500
Dear Ayanda Lubisi, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order

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