Economics · Market Structures
Which of the following is the second-order condition (or the sufficient condition) for the short-run equilibrium of a firm under perfect competition?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Slope of MC < Slope of MR
- 2Slope of MR < Slope of MC✓
- 3MC = Price
- 4MC = MR
Correct answer
Slope of MR < Slope of MC
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