Social Studies, 21.10.2020 01:01 genyjoannerubiera

NEED HELP Based on the graphs, which of the following statements about pure competition are accurate? Select all that apply.

The profit-maximizing quantity of output for the firm occurs at 148 units of output, where the revenue ($22.50) is highest.
The profit-maximizing quantity of output for the firm occurs at 148 units of output, where the revenue ($22.50) is highest.

Under pure competition, market supply and demand set an equilibrium price of $15.00.
Under pure competition, market supply and demand set an equilibrium price of $15.00.

Under pure competition, the individual firm sets its prices as high as possible in order to maximize profit.
Under pure competition, the individual firm sets its prices as high as possible in order to maximize profit.

The individual firm presented in the graph is not perfectly competitive because its demand curve does not follow the demand curve of the market.
The individual firm presented in the graph is not perfectly competitive because its demand curve does not follow the demand curve of the market.

The demand curve for the individual firm is also its marginal revenue curve because the firm will receive the same dollar amount for every unit it sells.
The demand curve for the individual firm is also its marginal revenue curve because the firm will receive the same dollar amount for every unit it sells.

The graph shows that the individual firm should not expand production beyond 144 units because the marginal cost of production will become larger than the marginal revenue from sales.
The graph shows that the individual firm should not expand production beyond 144 units because the marginal cost of production will become larger than the marginal revenue from sales.

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NEED HELP Based on the graphs, which of the following statements about pure competition are accurat...