?A perfectly competitive firm that earns an economic profit in the short run choose the output that:

a. ?maximizes the difference between total revenue and implicit cost.
b. ?minimizes its total cost.
c. ?maximizes the difference between total revenue and total cost.
d. ?maximizes its total revenue.
e. ?maximizes the difference between total revenue and explicit cost.


Answer: c. ?maximizes the difference between total revenue and total cost.

Economics

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