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Question

Which is the best definition of the marginal firm?

A
The firm with the largest profit.
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B
The firm with the lowest costs.
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C
The firm which makes only normal profit.
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D
The firm which equates its marginal cost with marginal revenue.
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Solution

The correct option is C The firm which makes only normal profit.
Marginal firm is the firm which makes only normal profit and at its equilibrium equates, AR = AC.

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