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| Q. |
A competitive firm will maximise profits at the output where |
| A. | the difference between price and marginal cost is highest |
| B. | the difference between marginal revenue and price is highest |
| C. | price is higher than the average total cost by the largest possible amount |
| D. | the excess of total revenue over the total cost is greatest. |
| E. | None of the above |
| Answer» D. the excess of total revenue over the total cost is greatest. | |
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