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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. average revenue equals average cost.
2. average revenue equals average variable cost.
3. total costs are minimised.
4. marginal revenue equals marginal cost.
Expert's answer
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