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Profit-maximizing conditions for a perfect competitive firm is where MR=MC, this is the same as that of a monopolyQuestion 8Select one:TrueFalse

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Solution 1

The statement is False.

Explanation:

  1. In a perfect competition market, the profit-maximizing condition occurs where marginal revenue (MR) equals marginal cost (MC). However, in perfect competition, MR is equal to the market price.
  2. In a monopoly market, the profit-maximizing condition a Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
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