Which of the following is NOT a condition for profit maximization of a perfectly competitive firm in the short run?
Held on 16 May 2025 · Verified 13 Jul 2026.
The price 'p' must equal MC
Average revenue must be rising.
Price must be greater than the average variable cost (p > AVC)
Marginal cost must be non-decreasing at the profit maximizing level of output.
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