A firm under perfect competition will be making minimum losses (in the short run) at a point where

A firm under perfect competition will be making minimum losses (in the short run) at a point where Correct Answer MC=MR

A firm under perfect competition will be making minimum losses (in the short run) at a point where MC=MR. In order to maximize profits in a perfectly competitive market, firms set marginal revenue equal to marginal cost (MR=MC).
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