There must be no Economic profits. The total of the quantities that every single producer is willing to supply makes up the market supply in a market with perfect competition.
<h3>What output volume is appropriate for the corporation aiming to maximize profits?</h3>
Marginal revenue and cost must match in order to maximize total profit. At 4 units of output, in this example, the maximum profit is realized. Where MR = MC is where a corporation with perfect competition will also find its level of output that maximizes profits.
<h3>When a corporation engaged in competition seeks to maximize immediate economic gains?</h3>
The amount of output the company picks where its marginal revenue and cost are equal to optimize profits.
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