QUESTION 1 Both a perfectly competitive firm and a monopolist choose output to maximise profits where: marginal cost equals price. total revenue…

QUESTION 1

1. Both a perfectly competitive firm and a monopolist choose output to maximise profits where:
2. marginal cost equals price.
3. total revenue equals total cost.
4. marginal cost equals marginal revenue.
5. average cost equals price.
6. marginal revenue equals price.

1 points