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This question belongs to Commerce Economics
Economics
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Which is the first-order condition for the profit of a firm to be maximum?

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Correct Answer: Option B
MC=MR is the first-order condition for the profit of a firm to be maximum. The Profit Maximization Rule states that if a firm chooses to maximize its profits, it must choose that level of output where Marginal Cost (MC) is equal to Marginal Revenue (MR) and the Marginal Cost curve is rising. In other words, it must produce at a level where MC = MR.
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Vishal Gupta
Vishal Gupta 7 years ago
Smjhe nhii