A perfectly competitive firm should produce more when: A) MR=0 B) MRMC. C) MRMC. 2. The profit maximizing output of a firm in a perfectly competitive market occurs when: A) MR=0 B) MR = MC. C) MRMC. 3. In which of the following types of markets does a single firm have the highest market power? A) Perfect competition. B) Monopolistic competition. C) Oligopoly. D) Monopoly. 4. List 2 characteristics of a perfectly competitive market:
