Answer:
A perfectly competitive firm will be profitable if price at the profit-maximizing quantity is above: __________
d. MC.
Explanation:
The general rule of profit maximization for a perfectly competitive firm is for the firm (and each firm in the market) to produce the quantity of output where the price (P) = marginal cost (MC). In this case, the price (P) is a measure of the value that customers place on the good. The marginal cost (MC) measures what it costs the firm to produce each marginal unit.
