Question: Please Explain A competitive firm is choosing an output level to maximize its profits in the short run. Which of the following is not necessarily

Please Explain

A competitive firm is choosing an output level to maximize its profits in the short run. Which of the following is not necessarily true. (Assume that marginal costs are well defined at all levels of output. a. Marginal cost is at least as large as average variable cost. b. Total revenues are at least as large as total cost. c. Price is at least as large as average variable cost. d. Price equals marginal cost. e. The marginal cost curve is rising

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