Profit maximization for the Competitive firm o Profit maximization occurs at the quantity where marginal revenue equals marginal cost When Mr>MC increase Q When Mr<Mc decrease Q When mr=Mc Profit is maximizedProfit Maximization for the Competitive Firm • Profit maximization occurs at the quantity where marginal revenue equals marginal cost. When MR > MC increase Q When MR < MC decrease Q When MR = MC Profit is maximized