Under perfect competition, the profit-maximizing condition for a firm is: MCQ with Answer and Explanation

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Under perfect competition, the profit-maximizing condition for a firm is:

A. TR is maximum

B. P = AC

C. MR = MC and MC is rising

D. MR is maximum

Answer: Option C

Solution (By JKSSB Mock Tests)

A perfectly competitive firm maximizes profit where marginal revenue equals marginal cost and MC is rising.

This question belongs to: Economy GK Economy Set 1

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Explanation:
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Correct Answer: Option D

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