Answer:
marginal revenue is above average costs
Explanation:
Perfectly competitive market is the market where there are large no of buyer and sellers who sells and buys same kind of products . The Prices are decided by forces of demand and supply.
This price is equivalent to marginal revenue of one firm.
A profit maximising firm generates the quantity at the time when MR and MC curve intersect with each other. The firm could earn economic profit at the time when price pr marginal revenue is above average total cost
